Sembcorp Marine to help develop new Saudi shipyard

The aim of the MOU is to prepare a detailed feasibility assessment into developing what is described as a “world-class maritime yard “in Saudi Arabia. It is intended that the proposed yard would be able to provide engineering, manufacturing and repair services related to merchant and offshore ships, as well as rigs and platforms.

Saudi Aramco says it is committed to promotion of economic development in the Kingdom of Saudi Arabia and supporting its national and international portfolio. The recent merger between shipping company Bahri and Saudia Aramco subsidiary Vela International Marine would enable both partners to contribute to the development of the maritime sector, economic growth and job creation. SembMarine says it will announce further details upon completion of the feasibility assessment.