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Argaam Tools ×
King Salman maritime complex
Overview
A joint venture between Saudi Aramco Co., Bahri, Lamprell Energy Ltd and Hyundai Heavy Industries co. to build ship repair and fabrication complex in Ras Al Khair city with an estimated cost of $5.3 billion.
The company expects that the complex would reduce Saudi imports by $12 billion, while increasing the country's gross domestic product by $17 billion.
Project Information
- Transportation > Transportation Products > Boats and ships
- Transportation > Transprtation Services > Maritime Transportation
-
The Global Maritime Industries Co. is an equity joint venture, owned by Saudi Aramco (40.1%), Lamprell Energy Ltd (20%), The National Shipping Company of Saudi Arabia (Bahri) (19.9%) and Hyundai Heavy Industries Co. (20%).
- Aramco expects manufacturing to start at offshore facilities in 2019, on shipbuilding and maintenance units in 2020, and on support facilities by 2021
- In Q2 2022 , Ministry of Industry and Mineral Resources announced that it secured SAR 15 billion for the steel plate mill complex to provide King Salman maritime complex with the necessary steel to build ships.
- In August 2017, the company signed a contract with a consortium of Saudi Archirodon Company Ltd and Huta Hegerfeld AG Saudia Company, for dredging, reclamation and providing marine structures for the project.
- In February 2019, Aramco awarded two major contracts to two consortiums to carry out the engineering and construction works at the complex. A Chinese consortium of Sinohydro hydropower engineering company and SEPCO Electric Power Construction Corporation (SEPCO) will conduct the engineering works, while another consortium of Sinohydro’s branch and SEPCO Arabia will build and prepare the industrial areas in the complex.
- In Its 2022 board report, the company revealed that the final yard completion and handover expected by the end of 2023.
-
In 2023 board report, Aramco revealed that the first rig was delivered in 2023 and the final yard of the project is expected to be completed and delivered in 2025.
Owners
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Saudi Aramco, partners launch marine industries firmArgaam30/12/2017
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