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Friday, March 22, 2013

$ 4 bn ship repair yard planned in Ras Al-Khair


Saudi Aramco and STX Heavy Industries Co. of South Korea plan to build a $ 4 billion ship repair and fabrication yard at Ras Al-Khair, about 60 km north of Jubail, industry sources were quoted as saying in media reports yesterday.

The oil firm’s plan to construct a shipyard will not only broaden its capabilities, but will also create jobs for local workers, MEED reported.

The report could not be independently confirmed as relevant officials were not available for comment.

MEED said STX has experience in the ship repair and offshore sectors, and should make an ideal partner for Saudi Aramco.

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