The signing ceremony for the engineering procurement construction (EPC) contract of the Saudi King Salman International Comprehensive Port Facility project, won by POWERCHINA, was held in Dammam, Saudi Arabia on Nov 26.
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The signing ceremony for the engineering procurement construction (EPC) contract of the Saudi King Salman International Comprehensive Port Facility project. [Photo/POWERCHINA] |
Yan Zhiyong, president of POWERCHINA; Li Yanming, vice-general manager of POWERCHINA; Saud bin Nayef, governor of Saudi Eastern Province, and Amin H. Nasser, president and CEO of Saudi Arabian Oil Company (Saudi Aramco), attended the signing ceremony .
Leaders of POWERCHINA International Group, SEPCO Electric Power Construction Corporation and Ahmed Al Saadi, senior vice president of Saudi Aramco, signed the contract.
With a contract value of more than 3 billion US dollars, the project is the largest spot foreign exchange project successfully won by POWERCHINA since its establishment.
The project will become the world's largest "super shipyard" and is expected to build four offshore drilling platforms and more than 40 ships every year, including three very large crude carriers (VLCC), greatly fueling the rapid growth of the local economy.
The project is situated on the Arabian Gulf coast of Saudi Eastern Province. No 4, No 5 and No 6 are the main parts of the project, including shipyards and offshore oil platforms.
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The project is situated on the Arabian Gulf coast of Saudi Eastern Province. [Photo/POWERCHINA] |
After the completion of the project, it will provide engineering, manufacturing and maintenance services for offshore drilling platforms, merchant ships and marine service ships.
The project was named by King Salman bin Abdulaziz Al Saud and is a key component of the Saudi "Vision 2030" National Reform Plan.
Co-built by the world's largest oil company, Saudi Aramco; the world's largest shipping company, Korean Hyundai Industries; the world's largest VLCC operator, Bahri; and largest rig builder in the Gulf region, Lamprell, the project will cut down 12 billion US dollars in new shipbuilding imports and raise 17 billion US dollars in local GDP, creating 80,000 job opportunities.
The successful signing of the project is also an achievement for POWERCHINA in carrying out China's Belt and Road Initiative (BRI). At present, SEPCO, as EPC general contractor for the project, has set up a project department to carry out early planning and design, and purchase and preparations for construction.
