DHAHRAN: Saudi Aramco on Friday launched a joint venture in marine international industries with Lamprell plc, the National Shipping Company of 抖阴短视频 (Bahri), and Hyundai Heavy Industries Co. Ltd. to establish, develop and operate a world-class maritime yard.
The new project will provide one of the world鈥檚 largest maritime integrated service complexes, with completion expected by 2022.
The new joint venture will localize important workshops in Saudi Aramco鈥檚 supply chain associated with offshore drilling and shipping, reduce costs, response time and increase flexibility for the company and its partners.
The new facility will be able to manufacture four offshore drilling platforms, build more than 40 vessels, including 3 giant oil tankers, and annually service more than 260 marine products.
Saudi Aramco鈥檚 vice president for finance, strategy and development, and chairman of the International Marine Industries Company, Abdullah Al-Saadan, said: 鈥淭he global marine industry will serve Saudi Aramco鈥檚 strategic goal of becoming the global leader in energy and chemicals by meeting the company鈥檚 needs in production and shipping.鈥 He added: 鈥淭he company offers a combination of technology, supply chain efficiency and sustainable partnership, enabling it to become a world-class company offering competitive services to customers.鈥
Al-Saadan noted: 鈥淭he world marine industry is unique in its combination of industrial and operational leadership through a consortium of four global and regional entities in the field of energy and marine industries, and the International Maritime Industries Company has valid applications for the manufacture of more than 20 platforms and the construction of 52 ships over the decade.鈥
Major production and services are expected to start in 2019 and the project will be fully operational by 2022. The project will contribute to the development of national expertise in the field of marine industries and employment generation.
