Saudi Aramco unveiled recently details of cooperation with the National Petroleum Construction Company and McDermott to establish two offshore manufacturing areas.
Aramco said in a statement, that the establishment of the two zones comes within the framework of Saudi Aramco’s strategy to try to support the localization of marine industries.
Aramco stated that it expects the establishment of the two zones to contribute to improving the cost and efficiency of the supply chain.
It will provide investment opportunities of high financial and operational value.
The two new areas in Ras Al-Khair will be established following international standards.
The project aims to harness the latest technologies to contribute to serving the requirements of the Kingdom, the Gulf region, and other regions.
The facilities are planned to be commissioned by the third quarter of 2023, with an initial combined production capacity of 70,000 metric tons per year.
When fully operational, these areas are expected to provide many jobs, with a target Saudization rate of 70%.
The offshore manufacturing areas are expected to benefit from the advanced infrastructure in Ras al-Khair, including the Ras al-Khair port and the King Salman International Complex for Maritime Industries and Services.