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FINANCIAL NEWS
Saudi Aramco signs major business deal with Hyundai Heavy
15 Nov 2015
(MENAFN) Saudi Aramco, the integrated energy and chemicals firm inked a MoU with South Korean Hyundai Heavy Industries (HHI) Group to invest their mutual experiences in promising developments within the kingdom.
Additionally, the major deal between the two behemoths basically covers the development of a world class maritime yard and the advancement of maritime diesel engine manufacturing in the Kingdom of Saudi Arabia.
In more detail, this critical strategic partnership is fixed to add better value to the Kingdom’s economy, not to mention enhance the localization efforts plus assist generate jobs for Saudi nationals.
“The partnership between the two giants not only means a great opportunity to enhance Korea’s shipbuilding, but also extends Hyundai Groups’ contribution to the Kingdom stretching back to the 1970s,’ said Hyundai’s CEO.
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