Saudi Arabia has officially launched International Maritime Industries (IMI), a joint venture that will manage and operate the Ras Al-Khair shipyard, which is scheduled to debut as early as next year. Venture partners Saudi Aramco, the National Shipping Company of Saudi Arabia (Bahri), Lamprell, and Hyundai Heavy Industries (HHI) will contribute their expertise to turn the yard into what is envisioned to be the largest shipbuilding and repair facility in the Middle East. Saudi Aramco has said the yard already has orders for more than 20 rigs and 52 ships for deliveries over the next decade.
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