The Largest Shipyard Building Project in The Middle East

Dubai shipbuilding company Lamprell, specializing in servicing the offshore industry, signed an agreement with Saudi Aramco, Saudi Arabia’s national shipping company Bahri and Hyundai Heavy Industries on the joint implementation of the project to build the largest shipyard in the Middle East. The shipyard with an area of 4.3 square km and will be located on the Rasal-Khaimah coast in the east of Saudi Arabia.

Lamprell investments 140 million USD in the project which will share 20% in the project. Controlling the shipyard will be Saudi Aramco with a 50.1% stake and investing in construction up to 350.7 million USD, Bahri will receive 19.9% and invest 139.3 million USD in the project, while Hyundai Heavy Industries will hold a share of 10% and invests 70 million USD.

The commissioning of the plant is scheduled for 2019, reaching the projected capacity by 2022. The Saudi Arabian Oil Company will place on it an order for the supply of at least 20 drilling rigs, while Bahri 52 commercial vessels.

The news is collated by ChinaRubberFender.com – Marine Fender Supplier.