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FinancialNews
06-07-17
Saudi Aramco, Dussur, Hyundai ink MOU for engine manufacturing project
(MENAFN) Aramco, the Saudi Arabian Industrial Investments Co. (Dussur) and Hyundai Industries proclaimed the launch of a mutual venture to produce 2-stroke and 4-stroke engines and marine pumps.
Additionally, the project not only envisages manufacture of engines and pumps but it will offer sales and aftersales services in the MENA region.
Accordingly, the manufacturing facility will be co-located with the maritime yard in Ras Al-Khair at the King Salman Intl Complex for Maritime Industries and Services.
Moreover, it is also projected to generate more than 650 direct jobs, as well as indirect jobs amid the development of the supply chain and will start operations by the end of 2019.
MENAFN0607201700450000ID1095603265
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