Saudi Aramco has increased its business relationship with Hyundai Heavy Industries (HHI) after signing a series of agreements in Seoul on Wednesday.
The two companies have agreed to establish a joint venture for an engine manufacturing and aftersales facility in Saudi Arabia.
Under the partnership, Saudi Aramco will own 55% of the venture, while HHI and The Saudi Arabian Industrial Investments Company (Dussur) will own 30% and 15% respectively.
