International Maritime Industries (IMI), the largest shipyard in the MENA region, and SAMI, a wholly-owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF), have signed a Memorandum of Understanding (MoU) to explore collaboration in the provision of defence vessels and services to the Royal Saudi Naval Forces and other navies in the region. The partnership aims to provide an ‘in-Kingdom’ solution to the Ministry of Defence and Royal Saudi Naval Forces, which will include the construction of defence vessels, as well as the procurement, installation, and integration of mission, combat and weapons systems, with other potential projects in the pipeline.
As a preliminary step, IMI and SAMI will engage in discussions on how best to position a future localised offering to the Saudi Armed Forces and Security Forces.
Located at Ras Al-Khair on Saudi Arabia’s eastern seaboard, International Maritime Industries (IMI) will be the largest maritime facility in the MENA region, with global ambitions and reach. IMI’s full-service yard will be capable of building four new offshore rigs and more than 43 vessels including VLCCs per year, as well as providing maintenance, repair and overhaul services. IMI is a Saudi Aramco sponsored joint venture with partners Hyundai Global Services, Bahri and Lamprell.