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FINANCIAL NEWS
Saudi to invest USD5.86bn in Ras Al-Khair shipyard
21 Jul 2016
(MENAFN) Saudi Arabia will invest almost USD5.86bn in a project in order to build a shipyard to construct large vessels for its oil industry.
Additionally, the project will be a joint venture between state oil giant Saudi Aramco, the National Shipping Co. of Saudi Arabia and others.
Accordingly, phase one of the project will be ready by 2018, while the whole project will be finished in 2021.
Moreover, the project would reduce Saudi Arabia’s ship import bill by almost USD12bn and boost its GDP by USD17bn.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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