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  • 09-07-19

    KSA, Hyundai to enter JV for marine engine plant

    (MENAFN) Saudi Arabia was announced to be looking to become a part of a joint venture with South Korea-based Hyundai Heavy Industries.

    Both sides are looking to establish in Saudi Arabia the first ever marine engine production plant to be seen within the Middle East.

    Under the plan, Saudi Aramco is joining the JV alongside Saudi Arabian Industrial Investments Company (Dussur) and Hyundai.

    It comes as Saudi Arabia works to reinforce and strengthen its nascent industries sector along with achieving economic diversity.

    Chief Executive of Dussur, Raed AlRayes assured that "this partnership marks our commitment to enable private sector growth in the kingdom by unlocking investments and attracting foreign direct investments."

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