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Saudi Aramco forms International Maritime Industries company

Written by  AOG Staff Friday, 05 January 2018 09:43
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Saudi Aramco and its partners; Lamprell Plc, the National Shipping Company of Saudi Arabia, and Hyundai Heavy Industries announced the official launch of their International Maritime Industries (IMI) joint venture.

Operational in 2022, the joint venture localizes essential links for Saudi Aramco’s supply chain related to offshore drilling and shipping activities, which will lead to optimized cost, reduced response times and improved agility for Saudi Aramco and its affiliates.

The nearly 12 million-square-meter facility will be the largest in the region in terms of production capacity and scale offering an unprecedented mix of products and services.

This scope enables Saudi Aramco and its supply chain partners to meet their manufacturing and MRO requirements for offshore oil and gas rigs, offshore support vessels, and commercial vessels, including Very Large Crude Carriers (VLCC).

The yard has an annual capacity to manufacture four offshore rigs, over 40 vessels including three VLCCs, and service over 260 maritime products.

Al-Saadan, chairman of the JV’s board of managers and Saudi Aramco’s senior vice president of finance, strategy, and development said:

“International Maritime Industries already has orders for more than 20 rigs and 52 ships over the next decade, demonstrating the trust of the JV partners in the company’s ability to produce quality, bespoke ships, and rigs in line with national and global environmental requirements. This enables building an integrated supply chain that is localized and highly responsive.” 

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