Built to inform

Sign up for the daily newsletters

No, Thank you

Bahri joins plan for major Saudi shipyard

Company carrying out feasibility study with Sembcorp and Saudi Aramco

The shipyard would build and maintain offshore rigs, platforms and service vessels
The shipyard would build and maintain offshore rigs, platforms and service vessels

Saudi Arabian shipping company Bahri has announced that it has signed an agreement with Saudi Aramco and Singaporean firm Sembcorp Marine to carry out a detailed feasibility study into building a huge new shipyard in the Kingdom.

Bahri said the "world-class Maritime Yard" would carry out manufacturing and repair of parts for offshore oil rigs and platforms as well as servicing commercial vessels and offshore service vessels.

Saudi Aramco and Sembcorp have already carried out detailed preliminary studies into setting up the yard and Bahri has joined as a partner as it enters into the detailed assessment phase.

In a statement to the Saudi stock exchange, the company said that its deal with the partners will be valid until an investment decision is made or terminated within 15 months.

Bahri said its Gas & Offshore business unit would handle its part in the study as well as identifying "other investment opportunities in the promising offshore services industry".

The company said that it will not know the financial impact of any decision to build until the feasibility study is completed and the partners have made their decision on whether to invest.

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 747
Aug 03, 2019