Aramco Signs MoU to Empower Fishermen in Jazan

Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
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Aramco Signs MoU to Empower Fishermen in Jazan

Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo

Saudi Aramco signed on Thursday a memorandum of understanding with Nesma Holding and Albir Society to empower low-income fishermen in Baish, Jazan with required skills and mechanisms to allow them to have a sustainable income.

This falls under Aramco’s initiative entrusted with empowering productive households.

The MoU was signed by Aramco Vice President Nasser al-Nafise, Nesma Holding Co. Chairman Saleh bin Ali al-Turki and Albir Director General Mohammad bin Ali Fakeeh.

Aramco has made this initiative as part of its role in citizenship and to achieve its goals in building and developing local communities. The initiative aims at empowering 50 low-income Saudi fishermen in Baish, Jazan, by providing them with new fishing boats.

Nafise stated that this initiative is in line with Aramco’s citizenship strategy that aims at creating opportunities for nationals and empowering low-income nationals.

Nafise noted that Aramco is joining efforts with its partners Nesma Holding and Albir Society to lay the framework for the prosperous communities in a manner that accomplishes the Saudi Vision 2030 goals.

The initiative reinforces the beneficiaries’ income because it will boost fishing abilities by allowing the new boats to reach distant areas and remain safely for long hours in the sea as well as giving them better chances of catching more fish. It also entails specialized courses to train fishermen and enable them to deal with all circumstances at sea.

The initiative falls under a basket of programs that were launched by Aramco in various regions in the kingdom to empower productive households in local communities.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.