Threeway MoU on shipbuilding cooperation was authorized by Bahri, IMI and also HHI
Saudi Arabian vessel titan Bahri has actually devoted to buying a VLCC from a large brand-new shipyard being created in the King Salman Complex for International Maritime Industries and also Services at Ras Al-Khair However, the ship will not really be developed there.
The shipyard is being created by International Maritime Industries (IMI), a joint endeavor in between Saudi Aramco, Bahri, Lamprell, and also Hyundai Heavy Industries.
Today, Bahri authorized a Memorandum of Understanding (MoU) with International Maritime Industries (IMI) and also Hyundai Heavy Industries (HHI) to develop brand-new Very Large Crude- oil Carriers (VLCCs).
As component of the arrangement, Bahri will certainly provide IMI its initial order prior to completion of following month.
However, when the order is put IMI will certainly involve HHI as a sub-contractor to develop the vessel inSouth Korea HHI, consequently, will certainly assist assist in the transfer of understanding allowing IMI to separately develop VLCCs to worldwide shipbuilding criteria inSaudi Arabia
Commenting on the MoU, Abdullah Aldubaikhi, CHIEF EXECUTIVE OFFICER of Bahri, stated: “Committed to playing a pivotal role in the transformation of the Kingdom into an important regional and global logistics and transportation hub, Bahri has been exploring new horizons for industry cooperation to take its vision forward. This agreement, which further strengthens our strong strategic relationship with IMI and HHI, signifies a major development in this direction, and we are confident it will provide a boost to our ongoing efforts aimed at enhancing our offerings and bolstering our capabilities. We look forward to a fruitful collaboration that will immensely benefit our customers and shareholders.”
On his component, Fathi K. Al-Saleem, CHIEF EXECUTIVE OFFICER of IMI, stated: “This agreement further strengthens the business relationship between IMI and its shareholders, as well as contributing to the development of a localized maritime industry supply chain infrastructure, technical expertise for Saudi nationals, and a track record in shipbuilding.”
