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McDermott Int’l Plans to Establish Highly-Developed Facilities in KSA

Aramco’s Marine Project. (Asharq Al-Awsat)
Aramco’s Marine Project. (Asharq Al-Awsat)
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McDermott Int’l Plans to Establish Highly-Developed Facilities in KSA

Aramco’s Marine Project. (Asharq Al-Awsat)
Aramco’s Marine Project. (Asharq Al-Awsat)

Houston-based McDermott International announced the construction of new highly-developed facilities in Saudi Arabia to support its operations in the Middle East, as well as support Aramco’s In-Kingdom Total Value Add (IKTVA) program.

McDermott continues to develop infrastructure in the fields of wind energy and other renewable energies in the kingdom.

McDermott President and CEO David Dickson stated that the two Memorandum of Understanding (MoUs) signed between McDermott and Aramco, support Vision 2030 and Aramco's initiative to enhance its added value and presence inside the Kingdom. He added that this complies with the initiatives launched in Saudi Arabia and the ability to provide local solutions to meet the needs of the modern business environment.

Speaking to Asharq Al-Awsat, Dickson expected that the two new facilities, set to be built in Ras al-Kheir, will enhance McDermott's manufacturing capacity in the Middle East from 8 million hours to 16 million hours a year, which will provide better service in the Middle East and other regions.

Dickson emphasized that McDermott is committed to using the local Saudi competencies to operate its facilities and develop their expertise, adding that he looks forward to recruiting and developing qualified Saudi talent at a high level in the Kingdom.

He stressed that oil and gas will continue to play an important role in meeting the world's energy needs in the foreseeable future.

Dickson also expects McDermott to play a key role in developing some of the infrastructure in wind and other renewable energy markets because of its growing importance and compatibility with many of the manufacturing, installation and project implementation needs.

He stressed that the oil and gas will remain at the heart of the work of McDermott, but there are other opportunities to expand the scope of its work beyond that.

"We are fully committed to supporting Aramco's added value within the Kingdom, and although we have come a long way in this area, we need to do more, and we are focusing on doing so," Dickson concluded.

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China, Africa Ask US to Return to ‘Right Track’ on Trade Differences 

China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province. (Reuters file)
China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province. (Reuters file)
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China, Africa Ask US to Return to ‘Right Track’ on Trade Differences 

China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province. (Reuters file)
China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province. (Reuters file)

China and 53 African countries called on nations, especially the United States, to return to the "right track" of resolving trade differences, the official Xinhua news agency reported on Wednesday.

The statement came after China's Foreign Minister Wang Yi met with African officials in the city of Changsha located in southern Hunan province.

The White House, in its April 2 "Liberation Day" tariff announcement, imposed some of the highest tariffs on several African countries. That included levies of up to 50% on goods from Lesotho, 47% for Madagascar, 40% for Mauritius, 38% for Botswana and 31% for South Africa, the continent's biggest exporter to the US.

The China-Africa statement, made on behalf of China, 53 African countries and the African Union Commission said it "firmly opposed any party reaching a compromise deal at the expense of the interests of other countries."

"We call on all countries, especially the United States, to return to the right track of resolving trade differences through consultation on an equal, respectful and reciprocal basis," the statement said.

China is willing to implement zero-tariff measures for the 53 African countries that it has diplomatic relations with, the statement said, apart from Eswatini, the only African country that supports Taiwan.

China's relations with African countries have strengthened as its own economy slows and it has emerged as Africa's biggest lender. In recent years, China has stepped up cooperation in areas from agriculture to infrastructure.

The continent offers a much-needed avenue for Chinese state-owned infrastructure firms struggling for projects as indebted local governments hold off on spending, and as a market for its electric vehicles and solar panels, areas where the US and EU say China has over-capacity.