DAHRAN, Saudi Arabia – Saudi Aramco has signed a memorandum of understanding (MoU) with GE and Italian group Cividale.
They plan to build what they claim will be the Middle East and North Africa’s first high-end forging and casting manufacturing facility designed to serve the region’s maritime and energy industries.
The new facility, involving a joint investment of more than $400 million, will be located in Ras Al-Khair, Saudi Arabia under the Royal Commission of Jubail and Yanbu industrial area. This should be operational in 2020, creating 2,000 jobs and helping to support development of local Saudi small and medium enterprises.
Previously Saudi Aramco and Cividale, a steel/cast iron producer, performed feasibility studies for forging and casting manufacturing services in the Kingdom.
According to GE, the new The Forging & Casting Manufacturing Facility will complement Aramco’s plans to develop various industrial projects in the Kingdom including a maritime project focused on building, maintenance, repair and overhaul of offshore platforms, jackups, offshore service vessels, and commercial tankers.
Its should also support Aramco and its partners’ planned development in manufacturing, maintenance, and repair of diesel engines and maintenance/repair of marine pumps; and an Energy Industrial City to accelerate manufacturing industries in the oil and gas sector.
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