01 December 2016

Saudi Aramco is likely to start work on its giant ship repair and shipbuilding complex at a cost of SR20 billion ($5.32 billion) in 2018, according to a Reuters report.

The facility, which will come up at Ras Al Khair on the kingdom’s east coast, will be developed jointly by its partners National Shipping Company of Saudi Arabia (Bahri), Korea’s Hyundai Heavy Industries and UAE engineering firm Lamprell.

The government will finance the infrastructure of the complex such as dredging and other work as it did with other cities Jubail and Yanbu, said the report.

Construction will start in 2018, and production in 2022.

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