HHI, Saudi Aramco and Dussur (the Saudi Arabian Industrial Investments Co) have signed a Memorandum of Understanding (MOU) that will see a joint venture formed to manufacture 2-stroke engines, 4-stroke engines and marine pumps and provide sales and aftersales services in the MENA region.
The manufacturing facility will be co-located with the maritime yard in Ras Al-Khair, at the King Salman International Complex for Maritime Industries and Services.
The engine and pump joint venture is expected to generate more than 650 direct jobs, as well as indirect jobs through the development of the supply chain.
The parties will now develop detailed documentation to reach a final investment decision. The facility is expected to be operational by end of 2019.