Saudi Aramco, HHI Ink Yard Build & Operate Deal
Saudi Aramco, the world’s leading integrated energy and chemicals company, and Hyundai Heavy Industries (HHI) Group signed a general memorandum of understanding (MoU) to jointly collaborate on business development opportunities in the Kingdom of Saudi Arabia. The signing ceremony was presided by Amin H. Nasser, President and CEO of Saudi Aramco; Ki-sun Chung, Senior Vice President of HHI Corporate Planning, accompanied by Jeong-Hwan Kim, COO of HHI Shipbuilding, and Cheul-ho Park, COO of HHI IP&E (Industrial Plant and Engineering). The MoU lays out a comprehensive, multi-faceted business cooperation framework in areas such as engineering, procurement and construction (EPC), downstream, and the development of a casting and forging facility.
Huge Saudi Sadara Project Signs Deals for Storage, Port Services
Saudi Arabia's Sadara Basic Services, fully owned by Sadara Chemical Co, has signed agreements covering storage facilities and port services, it said on Sunday as the firm prepares to start producing petrochemicals by the end of this year. Sadara Chemical is a $20 billion petrochemical joint venture between national oil giant Saudi Aramco and U.S. firm Dow Chemical. The partners have said the venture will go ahead on schedule despite slumping global oil and petrochemical prices. Sadara will sell some tank storage facilities to Jubail Chemical and Storage Services Co (JCSSC) at cost for around 1.76 billion riyals ($470 million), it said in a Saudi bourse statement.
Saudi Signs Port & Shipyard Contracts
Saudi Ports sign contracts for upgradilng ports & rents out shipyard The Saudi Ports Authority has signed contracts worth s total $130 million for develpment and maintenance of ports including: King Abdul Aziz Port in Damman, King Fahd Industrial Port in Yanbu for use of Yasref refining company. In addition a 10-year contract was signed with Al=Balagha Trading Group for the rental of King Fahd Shipyard.
