The King Salman Global Maritime Industries Complex is a shipyard in Ras Al-Khair, Saudi Arabia that is under construction and planned to open in late 2018. Upon completion, it will be the largest shipyard in the world. [1] Development of the facility began in November 2015, when Saudi Arabian oil and gas company Saudi Aramco and South Korean shipbuilder Hyundai Heavy Industries (HHI) signed a memorandum of understanding (MoU) regarding development of marine industry in Saudi Arabia, including a large shipyard. [2] In January 2016, it was announced that the partnership to construct the shipyard had expanded with the signing of an MoU between the National Shipping Company of Saudi Arabia, Maritime Offshore Limited (a Lamprell subsidiary), Saudi Aramco, and HHI. [3] The consortium subsequently signed a joint development agreement in June to undertake feasibility analysis of the shipyard, which had by then been confirmed to be sited in Ras Al-Khair. [3]
Royal HaskoningDHV and Hyundai Engineering & Construction were awarded a design contract for the facility in October 2016, [1] and the ceremonial groundbreaking took place on 29 November 2016, [4] although the first major construction contract, for dredging on site preparation, was not signed until May 2017. [5] In November 2017, Saudi Aramco awarded China Power Construction Group a $3 billion contract to build the shipyard facilities. [6] Total construction costs are estimated to be about US$4.3 billion. [4] The complex is scheduled to open in stages from late 2018 through 2022, when it will reach full capacity. [4] When complete, the facility is estimated to increase the gross domestic product of Saudi Arabia by $17 billion, while decreasing the country's imports by $12 billion and supporting 80,000 jobs nationally. [1]
The facility will be about 4.96 square kilometres (1,230 acres) in area, with several dry docks and at least 15 separate piers. [4] It will have four major areas of operation—shipbuilding, ship repair, oil rig construction, and oil rig support. [1] In July 2017, Hyundai Heavy Industries signed a memorandum of understanding to jointly develop with Saudi Aramco and investment company Dussur a $400 million factory to build medium speed marine diesel engines at the complex. [7] In January 2018, the anchor facility at the complex, a shipyard named International Maritime Industries, was incorporated with orders for at least 20 oil rigs and 50 ships. [8]
The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and after Turkey the second largest in the Middle East. Saudi Arabia is part of the G20 group of countries.
Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian public petroleum and natural gas company based in Dhahran. As of 2020, it is one of the largest companies in the world by revenue. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels, and largest daily oil production of all oil-producing companies. It is the single greatest contributor to global carbon emissions of any company in the world since 1965.
Hyundai Heavy Industries Co., Ltd. is the world's largest shipbuilding company. Its headquarters are in Ulsan, South Korea.
Hyundai Engineering and Construction Co., Ltd. KRX: 000720 is a major construction company in South Korea. The company was founded by Chung Ju-yung in 1947 as the Hyundai Civil Works Company and was a major component of the Hyundai Group. Hyundai Construction and Hyundai Engineering merged in 1999.
Ras Tanura is a city in the Eastern Province of Saudi Arabia located on a peninsula extending into the Persian Gulf. The name Ras Tanura applies both to a gated Saudi Aramco employee compound and to an industrial area further out on the peninsula that serves as a major oil port and oil operations center for Saudi Aramco, the largest oil company in the world. Today, the compound has about 3,200 residents, with a few Americans and British expats.
Jazan, also spelled Jizan, Gizan or Gazan, is a port city and the capital of Jizan Region, which lies in the southwest corner of Saudi Arabia and directly north of the border with Yemen. Jazan City is situated on the coast of the Red Sea and serves a large agricultural heartland that has a population of 319,119 as of 2021 and over 1.5 million, within metropolitan area. As the city is the capital of the region, it has the regional airport as well as Jazan seaport. The area is noted for its high-quality production of tropical fruits like mango, figs, and papaya.
India–Saudi Arabia relations, also referred to as Indian-Saudi relations or Indo-Saudi relations, are the bilateral relationship between the Republic of India and the Kingdom of Saudi Arabia. Relations between the two nations are generally strong and close, especially in commercial interests. Indo-Saudi bilateral trade reached US$27.48 billion in the financial year 2017–18, up from US$25.1 billion in the preceding year. Saudi Arabia's exports to India stood at US$22.06 billion whereas India's exports were US$5.41 billion.
Malaysia–Saudi Arabia relations refers to the current and historical relationship between Malaysia and Saudi Arabia. Saudi Arabia has an embassy in Kuala Lumpur, while Malaysia has a High Commission in Riyadh and a consulate general in Jeddah. Relations, both diplomatic and economic, are quite close between the two Muslim-majority Organisation of Islamic Cooperation (OIC) members.
Energy in Saudi Arabia involves petroleum and natural gas production, consumption, and exports, and electricity production. Saudi Arabia is the world's leading oil producer and exporter. Saudi Arabia's economy is petroleum-based; oil accounts for 90% of the country's exports and nearly 75% of government revenue. The oil industry produces about 45% of Saudi Arabia's gross domestic product, against 40% from the private sector. Saudi Arabia has per capita GDP of $20,700. The economy is still very dependent on oil despite diversification, in particular in the petrochemical sector.
Khalid A. Al-Falih is Minister of Investment of Saudi Arabia since 25 February 2020. He served as Minister of Energy of Saudi Arabia and chairman of Saudi Aramco. He also has previously served as the Saudi Arabian Health Minister and Aramco's CEO.
China–Saudi Arabia relations refers to the current and historical bilateral relationship between the People's Republic of China and the Kingdom of Saudi Arabia. The first Sino-Saudi official meeting took place in Oman in November 1985, following several years of heightened contact between the two countries. The two governments established official diplomatic relations on 21 July 1990. Prior to the 1990s, bilateral relations between Saudi Arabia and the People's Republic of China (PRC) did not exist. In 1975, Saudi Arabia refused to recognize the PRC as a country, despite the PRC's desire to establish relations and acceptance of Saudi Arabian policies. It is said that "oil is the backbone of the relationship", while Saudi Arabia has long relied on China for arms sales, including weapons the former could not acquire from anywhere. At present, China and Saudi Arabia are close and strategic allies, with the relationship getting significantly warmer between the two. In a 2015 public opinion poll, 61.3% of Saudi Arabians expressed a favorable view of China, with 34.2% being very favorable, while only 28.5% were unfavorable.
MA'ADEN is a diversified mining company, active in gold, base metals, mining and infrastructure industry. Ma'aden was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. It is the largest mining company in Saudi Arabia. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul. The company is structured with corporate headquarters in Riyadh with several subsidiaries.
Lamprell plc, based in the United Arab Emirates, specialises in construction and fabrication, servicing both the Renewables and Oil & Gas industries. It builds wind turbine foundations as well as shallow-water drilling jackup rigs, liftboats and land rigs, and it also carries out rig refurbishment. In 2021 the company added a Digital business unit servicing not only the renewables and oil & gas sectors but other related industries. It is listed on the London Stock Exchange.
Ras Al-Khair is a town and port currently under development on the eastern coast of Saudi Arabia 60 km north of Jubail. It is also known under its project name of "Minerals Industrial City".
The Petromin Corporation is a Saudi Arabian lubricants and automotive services company, operating in lubricant oils including manufacturer, industrial, and automotive oils and lubricants, car servicing, fuel retailing and car dealerships. The company is one of the "Major Leading Players" of the lubricating grease Industry.
Saudi Vision 2030 is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. Key goals include reinforcing economic and investment activities, increasing non-oil international trade, and promoting a softer and more secular image of the Kingdom. It also consists of increasing government spending on the military, as well as manufacturing equipment and ammunition.
Pengerang Integrated Petroleum Complex (PIPC) is a megaproject development in Pengerang, Kota Tinggi District, Johor, Malaysia. It spans over an area of 80 km2 and will house oil refineries, naphtha crackers, petrochemical plants, liquefied natural gas (LNG) terminals and a regasification plant upon completion.
The Jose Rizal class of multi-role guided missile frigates, currently in service with the Philippine Navy, are a heavily modified variant of the ROK Navy's Incheon-class frigates. The ships, which were built by Hyundai Heavy Industries (HHI), are specifically accommodated to fit the requirements of the Philippine Navy. The frigates will improve the ability of the Philippine Navy's Offshore Combat Force, which is mostly composed of ships that were retired from other countries and subsequently transferred to the Philippines.
France–Saudi Arabia relations refer to foreign relations between France and Saudi Arabia. Diplomatic relations began in 1926. Today Saudi Arabia is an ally of France, with strong economic, military and political coordination on many topics such as Iran's nuclear program and the departure of Bashar Al Assad. The relationship has been called a global strategic partnership. France has an embassy in Riyadh, and a consulate-general in Jeddah. Saudi Arabia has an embassy in Paris. Both countries are members of G20.
Saudi Arabian Industrial Investments Company (Dussur) is government company established in 2014 at Saudi Arabia for the development of strategic industrial investments. As of April 2019, its CEO is Dr. Raed Al-Rayes.
