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Sovereign Wealth Funds Briefing - Categorized | Investment

Saudi Arabia plans to build world-class maritime yard

Posted on 21 August 2013

The National Shipping Company of Saudi Arabia (Bahri) has entered into a Memorandum of Understanding (MOU) with Saudi Aramco and Sembcorp Marine Ltd (a leading global marine and offshore engineering group based in Singapore) to conduct a feasibility study for the development of a world-class maritime yard in Saudi Arabia.
Bahri, which is 28 percent owned by the state-owned Public Investment Fund, agreed a $1.3 billion merger with Vela International Marine in October………………………………………..Full Article: Source


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