MAKEEN CEO says Ras Al Khair plant 40% completed

Logo of Saudi Engines Manufacturing Co. (MAKEEN)

Bader Al Zaabi, CEO of Saudi Engines Manufacturing Co. (MAKEEN),said the factory being built on 150,000 square meters in King Salman International Complex for Maritime Industries and Services (KSICMS) in Ras Al Khairwas nearly 40% completed.

On the sidelines of the Saudi Maritime & Logistics Congress 2024 in Dammam, Al Zaabi told Al Eqtisadiah newspapersaid the company's engine production will likely start in early 2026.

He added that the factory's annual production capacity will reach 30 giant oil tanker engines and 235 medium-speed engines for smaller ships operating in ports.

According to data available on Argaam, MAKEEN is a joint venture between Saudi Arabian Oil Co. (Saudi Aramco) with a 55% stakeand Saudi Arabian Industrial Investment Co. (Dussur) with a 15% equity, while Hyundai Heavy Industries (HD) owns the remaining 30%.

This will be the first marine engine manufacturing plant in the Middle East and North Africa region. It will be the main supplier for several local and global maritime industries.