Riyadh – Mubasher: Saudi Aramco and its partners; Lamprell Plc, the National Shipping Company of Saudi Arabia (Bahri); and Hyundai Heavy Industries (HHI), on Saturday announced the official launch of an International Maritime Industries (IMI) joint venture.
Situated on about 12 million square-metre, the full-service maritime facility will be fully operational in 2022, and will offer “unprecedented” mixture of products and services, according to a company statement.
The new joint venture aims at localising essential links for Saudi Aramco’s supply chain related to offshore drilling and shipping activities, and will optimise cost, reduce response times and improve agility for the Saudi company and its affiliates, Aramco added.
The project is planned to commence production and service operations in 2019, to reach its full operational capacity by 2022, the state-owned oil company revealed.
“By meeting Saudi Aramco’s offshore production and transport needs, International Maritime Industries will serve our strategic intent to become the world’s foremost integrated energy and chemicals company,” said Abdullah I. Al-Saadan, Saudi Aramco’s senior vice president of finance, strategy, and development.
The yard will have an annual capacity to manufacture four offshore rigs, over 40 vessels including three VLCCs, and service over 260 maritime products.
On Saturday, Fathi K. Al-Saleem was appointed as CEO of International Maritime Industries, Aramco stated.
“Through our combination of technology, integrated facilities, and supply chain efficiencies, we are redefining what it means to partner with customers for maritime advancement,” Al-Saleem commented.
