Talks with Aramco, Sembcor to continue: Bahri
The yard will reportedly be built in Ras al-Khair, on Saudi Arabia's eastern coast
Talks on building a maritime yard in Saudi Arabia will continue, the National Shipping Company of Saudi Arabia (Bahri) said last week.
Industry sources told Reuters that the yard would be built in Ras al-Khair, a town and port currently under development on the eastern coast of Saudi Arabia.
Bahri signed a memorandum of understanding (MoU) with Saudi Aramco and Singapore's Sembcorp Marine in August 2013 to conduct a feasibility study for the yard project which expired on Oct. 29.
The MoU expired with no financial commitments but the three companies want to continue negotiations, sign a new MoU or extend the expired one, Bahri said in a statement on the Saudi bourse.
The project is aimed at providing engineering, manufacturing and repair services to rigs, platforms, commercial vessels and offshore service vessels.