Work starts on Saudi maritime logistics hub

Offshore staff

DHAHRAN, Saudi Arabia – King Salman bin Abdulaziz Al Saud has laid the cornerstone of the King Salman International Complex for Maritime Industries & Services near Jubail in eastern Saudi Arabia.

Development will start with a maritime yard, managed and maintained by Saudi Aramco’s proposed joint venture with The National Shipping Company of Saudi Arabia (Bahri), Hyundai Heavy Industries, and Lamprell.

On completion in 2021 it will be available for offshore vessel and rig build, maintenance, repair, and overhaul services.

By 2030, Aramco expects the complex to contribute around SAR64 billion ($17 billion) annually to the Kingdom’s GDP, reducing the cost of maritime-related imports by SAR45 billion ($12 billion) and creating more than 80,000 jobs.

Aramco’s president and CEO Amin Nasser said: “Ras Al-Khair will be a dynamic industrial stronghold in the Kingdom, incubating various industries.”

The company aims to double the percentage of local content in commodities and services produced in the Kingdom to 70% by 2021, he added.

The complex will host numerous support service facilities and a residential compound with associated recreational amenities. It is expected to open in early 2019, reaching full operational capacity by 2021.

11/30/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...