McDermott Inks Deal to Build EPCI Facility in Saudi Arabia
Saudi Aramco and McDermott International, Inc. subsidiary McDermott Arabia Company, Ltd. entered into an agreement Tuesday to allow McDermott to establish a fabrication facility for offshore platforms and onshore/offshore modules.
The facility will be located in the King Salman International Complex for Maritime Industries in Ras Al-Khair, Saudi Arabia. It will cover about 1.15 million square meters.
“This facility will serve as a major Engineering, Procurement, Construction, and Installation (EPCI) hub for not only the Kingdom, but for the GCC region,” Ahmad Al Sa'adi, Saudi Aramco senior vice president of technical services, said in a company statement.
At peak production, the facility will have throughput capacity totaling more than 60,000 metric tons per year.
Not to mention it’s expected to create significant job opportunities in the Kingdom.
“Having this facility with International Maritime Industries (IMI) in the King Salman International Complex for Maritime Industries offers an integrated portfolio of maritime products and services,” said Mohammad Al Assaf, Saudi Aramco’s vice president of new business development. “The localization of these capabilities will contribute to diversifying the economy, create almost 7,000 jobs and achieve a target of 60 percent Saudization by 2030.”
McDermott’s CEO David Dickson added that the decision to expand the company’s fabrication capacity in Saudi Arabia signifies McDermott’s commitment to the Kingdom’s Vision 2030 objectives.
Apprenticeship and training programs will also be offered to ensure enough qualified nationals of the Kingdom will be ready for hire.
The facility is expected to be operational by 2022.
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