Saudi marine contractor Murjan Al-Sharq acquired by British firm
James Fisher & Sons has bought out the marine contractor as it seeks to work on Saudi Aramco and Vision 2030 projects
British marine engineering company James Fisher & Sons (JFS) has continued its expansion into the Middle East with the acquisition of Saudi Arabian construction firm Murjan Al-Sharq Marine Contracting (MSMC).
In a statement, JFS said the acquisition brings “a wealth of local expertise” into the group, with the move adding “strategically important nearshore marine construction and maintenance capabilities” to its offering.
Chris Clark, vice president at MSMC, said the group is well positioned at present, “having recently deployed new marine assets from Damen shipyards for existing and upcoming projects”, adding: “We will be performing marine services with the new fleet under [the] Saudi flag to support Saudi Aramco and Vision 2030.”
JFS's acquisition provides “strength and stability to maintain [MSMC’s] current growth” and and allow to capture a larger market share, Clark said.
The deal comes just over a month after MSMC received three vessels from Damen Shipyard to complete an extensive oil dredging and installation project in the region.
The delivery of a Stan Tug 1606, a Shoalbuster 2509, and a Stan Pontoon 4512 – the latter equipped with a Damen DOP Pump – marked the end of a coordinated construction and delivery contract involving three shipyards in the Netherlands, China, and the UAE.