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Aramco Establishes 2 Offshore Fabrication Yards in Collaboration with Int’l Partners

Saudi Aramco is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity. (Aramco)
Saudi Aramco is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity. (Aramco)
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Aramco Establishes 2 Offshore Fabrication Yards in Collaboration with Int’l Partners

Saudi Aramco is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity. (Aramco)
Saudi Aramco is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity. (Aramco)

Saudi Aramco, in collaboration with international partners, is establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity, announced the company on Monday.

The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction Company (NPCC) and McDermott International. They are expected to fabricate and assemble offshore platforms, jackets and structures for subsea pipelines.

Designed to international standards and harnessing latest technologies, they are intended to serve the Kingdom, Gulf Cooperation Council and broader markets. Establishing the yards at Ras Al Khair also aims to support localization of the maritime industry, and supplement the nearby King Salman International Complex for Maritime Industries and Services.

Start-up of the facilities is planned for the third quarter of 2023, with the initial combined production capacity estimated at roughly 70,000 metric tons (MT) per year, increasing the Kingdom’s total offshore fabrication capacity from 30,000 MT to 100,000 MT annually. When fully operational, the yards are expected to create up to 7,000 direct and indirect jobs, with a target Saudization rate of 70%.

Ahmad A. Al-Sa’adi, Aramco Senior Vice President of Technical Services, said: “We believe the creation of these two yards represents a significant addition to infrastructure development for the maritime industry.”

“They are expected to harness latest technologies, support localization efforts, improve the supply chain and contribute to the development of Saudi talent. In addition, they aim to contribute to economic diversification in the Kingdom,” he added.

Abdulkarim A. Al Ghamdi, Aramco Vice President of Project Management, said: “NPCC and McDermott are long-term partners of Aramco and the establishment of these yards is another example of our collaborations and joint efforts to deliver more advanced offshore facilities.”

“The yards are intended to bring cutting-edge technologies and digital solutions to in-Kingdom fabrication. We also expect them to accelerate project delivery schedules and reinforce the local supply chain,” he stated.

It is anticipated that the new offshore fabrication yards will support economic expansion and diversification in Saudi Arabia, and tap into different opportunities to create value. They could also help localize state-of-the-art technologies, while supporting Saudi Arabia’s development as a center of excellence for maritime engineering, equipment, material manufacturing and fabrication.

The offshore fabrication yards are expected to take advantage of advanced infrastructure at Ras Al Khair, including Ras Al Khair Port and the King Salman International Complex for Maritime Industries and Services.

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Britain Vows to Toughen Its Trade Defenses Under New Strategy

Shadow Secretary of State for Work and Pensions Jonathan Reynolds speaks during Britain's Labour Party annual conference, in Brighton, Britain, September 27, 2021. (Reuters)
Shadow Secretary of State for Work and Pensions Jonathan Reynolds speaks during Britain's Labour Party annual conference, in Brighton, Britain, September 27, 2021. (Reuters)
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Britain Vows to Toughen Its Trade Defenses Under New Strategy

Shadow Secretary of State for Work and Pensions Jonathan Reynolds speaks during Britain's Labour Party annual conference, in Brighton, Britain, September 27, 2021. (Reuters)
Shadow Secretary of State for Work and Pensions Jonathan Reynolds speaks during Britain's Labour Party annual conference, in Brighton, Britain, September 27, 2021. (Reuters)

Britain said it would toughen up its trade defenses to better protect industries amid a turbulent global outlook of trade wars and tariffs that has shaped its new trade strategy to be published on Thursday.

Britain is set to partially implement a deal to remove some of US President Donald Trump's tariffs, but acknowledged that its trade remedies system needed to be more "agile, assertive, and accountable to guard British businesses against global turbulence".

"The UK is an open trading nation, but we must reconcile this with a new geopolitical reality and work in our own national interest," Business and Trade Secretary Jonathan Reynolds said.

"Our trade strategy will sharpen our trade defense so we can ensure British businesses are protected from harm."

As part of the strategy, the government will reform the Trade Remedies Authority.

UK Steel has said that the TRA's current powers, under which it proposed to cap how much of certain kinds of steel could be imported, needed to be more robust, and welcomed the trade strategy as a "critical turning point".

Britain is aiming to remove US tariffs on steel imports under their agreement, although the implementation of the deal has not been finalized.

The government has stepped in to take control of British Steel, and other industries are also seeking support, with AB Foods extending its deadline for deciding the fate of its Vivergo bioethanol plant to Thursday in the hope of a support package.

The trade strategy is Britain's first since it has had an independent trade policy after leaving the European Union.

The previous Conservative government hailed the opportunities of Brexit as it pursued several free trade agreements.

While the Labor government, which came to power a year ago, has concluded free trade agreement talks with India and is making progress on another with the Gulf Cooperation Council, it said the new strategy would focus on quicker and more practical deals than the previous government did.