Saudi Aramco launches ship manufacturing venture

Major production and services are expected to start in 2019 and the project will be fully operational by 2022. (Courtesy: saudiaramco)
Updated 31 December 2017
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Saudi Aramco launches ship manufacturing venture

DHAHRAN: Saudi Aramco on Friday launched a joint venture in marine international industries with Lamprell plc, the National Shipping Company of Saudi Arabia (Bahri), and Hyundai Heavy Industries Co. Ltd. to establish, develop and operate a world-class maritime yard.

The new project will provide one of the world’s largest maritime integrated service complexes, with completion expected by 2022.

The new joint venture will localize important workshops in Saudi Aramco’s supply chain associated with offshore drilling and shipping, reduce costs, response time and increase flexibility for the company and its partners.

The new facility will be able to manufacture four offshore drilling platforms, build more than 40 vessels, including 3 giant oil tankers, and annually service more than 260 marine products.

Saudi Aramco’s vice president for finance, strategy and development, and chairman of the International Marine Industries Company, Abdullah Al-Saadan, said: “The global marine industry will serve Saudi Aramco’s strategic goal of becoming the global leader in energy and chemicals by meeting the company’s needs in production and shipping.” He added: “The company offers a combination of technology, supply chain efficiency and sustainable partnership, enabling it to become a world-class company offering competitive services to customers.”

Al-Saadan noted: “The world marine industry is unique in its combination of industrial and operational leadership through a consortium of four global and regional entities in the field of energy and marine industries, and the International Maritime Industries Company has valid applications for the manufacture of more than 20 platforms and the construction of 52 ships over the decade.”

Major production and services are expected to start in 2019 and the project will be fully operational by 2022. The project will contribute to the development of national expertise in the field of marine industries and employment generation.


Saudi commission signs deal to boost cybersecurity education

Updated 20 June 2018
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Saudi commission signs deal to boost cybersecurity education

RIYADH: The Saudi Arabian National Commission for Cyber Security has signed an agreement with the Ministry of Education to allocate 1,000 scholarships over five years for students looking to specialize in cybersecurity.
The agreement hopes to prepare qualified Saudi specialists in cybersecurity.
The Commission will set up the educational requirements and criteria for successful applicants of both genders in coordination with the sector’s core needs.
The Commission is also to specify the appropriate universities and institutions that will deliver the necessary programs.
The new agreement will help meet ‘Vision 2030’ goals to build national capacity in all sectors to meet market demands.
The agreement also aims to meet the new targets of Saudi student’s scholarship as set by King Salman, setting out choice of speciality to reflect market demands.