Bahri, the National Shipping Company of Saudi Arabia, has entered into a memorandum of understanding with Saudi Aramco and Sembcorp Marine to prepare a feasibility study for the development of a maritime yard in Saudi Arabia.
The MOU is valid until an investment decision is made or terminated within 15 months from its effective date. Saudi Aramco and Sembcorp Marine have previously completed preliminary studies leading to this assessment phase, which Bahri is now participating in as a new partner.
The intended maritime yard will provide engineering, manufacturing and repair services for rigs, platforms, commercial vessels and offshore service vessels. Within Bahri, this initiative will be managed by the gas and offshore business unit, which is currently being established. This unit will also explore other investment opportunities in the offshore services industry.