Saudi vessel owner and operator Bahri has signed an agreement with International Maritime Industries (IMI), and subsequently entered into a sub-contract arrangement with South Korea’s Hyundai Heavy Industries (HHI), to build a 319,000 dwt VLCC tanker, with delivery expected in October 2021.
The agreement follows up on a Memorandum of Understanding (MoU) signed between Bahri, IMI and HHI in June this year. Commenting on the latest agreement, Abdullah Aldubaikhi, Bahri chief executive, said: “The collaboration is aimed at furthering our contribution to the development of the Kingdom’s own indigenous shipbuilding industry. We will benefit from the transfer of technology and knowledge to develop, increase, and promote local content and create suitable job opportunities for our citizens in line with the objectives of Saudi Vision 2030.”
IMI, a joint venture between Saudi Aramco, Bahri, Lamprell, and HHI, is located at the King Salman Complex for International Maritime Industries and Services in Ras Al-Khair, Saudi Arabia. When complete, the shipyard will be the largest maritime facility in the region and will have the capacity to manufacture four offshore rigs and over 43 vessels, including VLCCs, in addition to servicing more than 260 maritime projects, a year. Major production operations are expected to commence by the end of 2020.