Construction of a 20 billion riyals huge shipyard in Saudi Arabia has started

[The SC]

Lamprell has announced the start of a joint venture to build a shipyard on the Kingdom's east coast.

The statement said that the joint venture of the International Maritime Industries Company started work after reaching a loan agreement from the Saudi Industrial Development Fund.
The global marine industry company is a partnership between Saudi Aramco, Lamprell, the UAE, Saudi National Shipping Company and Hyundai Heavy Industries.

According to Reuters, an Aramco executive will be the chief executive of the project, which Aramco said earlier would cost more than 20 billion riyals ($ 5.3 billion).

Saudi Arabia's Industrial Development Fund (SIDF) agreed in principle last year to provide 3.75 billion riyals ($ 1 billion) in funding to the project.

The total expected value of Lamprell's contribution over the construction period is $ 140 million, the statement said.

The 12 million square meter facility is planned to manufacture four offshore drilling platforms per year and more than 40 vessels, including three giant oil tankers and over 260 marine products.

According to previous reports, the basin will provide a wide range of services, including the construction of large vessels, repair of large vessels, the manufacture of offshore dredgers and the repair of marine support vessels.

The shipyard will include a range of facilities including seven fully equipped dry basins; two basins, five berths, a ship lift system, warehouses, utility service areas, workshops, office buildings, accommodation and recreation facilities for more than 10,000 workers.

Aramco said earlier that it expects the project to provide 80,000 jobs and allow the kingdom to lower its imports by $ 12 billion, with a GDP increase of $ 17 billion.


https://www.arabyoum.com/business/3727570/بدء-تشييد-حوض-ضخم-لبناء-السفن-في-السعودية-بـ-20-مليار-ريال

 

[Clutch]

Lamprell has announced the start of a joint venture to build a shipyard on the Kingdom's east coast.

The statement said that the joint venture of the International Maritime Industries Company started work after reaching a loan agreement from the Saudi Industrial Development Fund.
The global marine industry company is a partnership between Saudi Aramco, Lamprell, the UAE, Saudi National Shipping Company and Hyundai Heavy Industries.

According to Reuters, an Aramco executive will be the chief executive of the project, which Aramco said earlier would cost more than 20 billion riyals ($ 5.3 billion).

Saudi Arabia's Industrial Development Fund (SIDF) agreed in principle last year to provide 3.75 billion riyals ($ 1 billion) in funding to the project.

The total expected value of Lamprell's contribution over the construction period is $ 140 million, the statement said.

The 12 million square meter facility is planned to manufacture four offshore drilling platforms per year and more than 40 vessels, including three giant oil tankers and over 260 marine products.

According to previous reports, the basin will provide a wide range of services, including the construction of large vessels, repair of large vessels, the manufacture of offshore dredgers and the repair of marine support vessels.

The shipyard will include a range of facilities including seven fully equipped dry basins; two basins, five berths, a ship lift system, warehouses, utility service areas, workshops, office buildings, accommodation and recreation facilities for more than 10,000 workers.

Aramco said earlier that it expects the project to provide 80,000 jobs and allow the kingdom to lower its imports by $ 12 billion, with a GDP increase of $ 17 billion.


https://www.arabyoum.com/business/3727570/بدء-تشييد-حوض-ضخم-لبناء-السفن-في-السعودية-بـ-20-مليار-ريال

Great news... The Saudis need to invest in big industrialization projects!

 

[The SC]

A very promising project indeed..

It will bring in $ billions to the Saudi treasury, and will contribute to strengthen KSA's status as an industrial state.

It is a modern and sophisticated marine complex that offers extensive services. This is rarely found in other marine complexes. If you want several services, you have to visit several companies to serve you. Aramco builds most of the services, starting from the partial industry as spare parts, then the total and complete industry of products and ends with annual maintenance for them..

Some details of the project:

1. It can be used for civil and military products.

2- The technology and localization of important workshops in Aramco's supply chain related to offshore drilling and shipping will be transferred.

3. Aramco will help reduce costs, reduce response time and increase flexibility.

4 - One of the largest integrated marine complexes services worldwide and the largest in the region, with a total area of 12 million square meters!

5. Some of the main services of the complex are the manufacture, maintenance, repair and refurbishment of ships, including giant vessels (oil tankers) and offshore gas and oil platforms.

6. Production capacity per year:

• 4 offshore drilling platforms.
• 40 vessels, including 3 giant ships.
• Service of 260 marine products.

7 - The project managers are betting on its success and the ease of winning customers globally for its competitive services.

8 - Currently there are requests for the manufacture of 20 platforms and the construction of 52 vessels.

9. Production and major services will commence in 2019, with the project being completed and fully operational by 2022.

10 - Provide job opportunities for 80 thousand employees.

*As previously announced is the ToT and localization of the industry of giant ship engines of Hyundai will take place in this complex.