Saudi Aramco and HHI agree co-operation deal
The two parties form a joint venture to set up a world class engine manufacturing and aftersales facility in Saudi Arabia. Other deals include an expansion of their existing collaboration to further develop co-operation in shipbuilding, engine manufacturing, refining and petrochemicals as well as an agreement between the two to increase HHI’s equity share in International Maritime Industries from 10% to 20%
Other deals signed, as part of the Saudi Crown Prince’s visit to South Korea, include oil supply and storage agreements with Hyundai Oilbank and Korea National Oil Corporation respectively