The world's largest shipbuilding company, Hyundai Heavy Industries, is set to partner with Saudi Aramco, Saudi Arabian petroleum and natural gas company, in the areas of shipbuilding, engine, plant and oil refining.
Hyundai Heavy Industries said on Wednesday it signed a strategic partnership deal with Aramco, with HHI's key executives and Aramco's cheif Al Nasser attending.
Both agreed to have joint business in the areas of Hyundai's shipbuilding, engine and plant. First, HHI is set to take part in the dockyard being pushed by Aramco. Saudi's state-run shipping company Bahri will also participate in the joint project.
HHI is set to have priority in earning vessel contracts ordered by local dockyards and will have an opportunity to create diverse additional revenues by running local dockyards.
The shipbuilding company is also set to export its exclusively developed HimSen engine to the Middle East.
