Saudi Arabian owner Bahri and energy giant Saudi Aramco are pushing on with a domestic shipyard project alongside Lamprell and Hyundai Heavy Industries.
A joint development agreement for a yard at Ras Al Khair has now been signed, upgrading a memorandum of understanding inked in January.
After previous due diligence and feasibility work, now operational, financial, personnel and legal aspects of the project will be reviewed, a statement explained.
