Bahri set to ink MoU with Saudi Aramco, Sembcorp for new shipyard

29/10/2015 Argaam

The National Shipping Co. of Saudi Arabia (Bahri) said on Thursday it will resume talks with Saudi Aramco and Singapore’s Sembcorp Marine to sign a new memorandum of understanding (MoU) or renew the expired one for building a shipyard in the kingdom.

 

The MoU, which was inked in August 2013 to conduct a feasibility study for a maritime yard project in the kingdom, ended on Thursday, with no financial liability on the related parties, Bahri added in a statement to the Saudi bourse.

 

Last November, the memorandum was extended to October 29, 2015 (Thursday).

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