Aramco Signs First Contract for King Salman Int’l Complex for Maritime Industries and Services

Ahmed Al-Sa’adi, Saudi Aramco’s Senior VP for Technical Services with executives of Contractor Managements. (Asharq Al-Awsat)
Ahmed Al-Sa’adi, Saudi Aramco’s Senior VP for Technical Services with executives of Contractor Managements. (Asharq Al-Awsat)
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Aramco Signs First Contract for King Salman Int’l Complex for Maritime Industries and Services

Ahmed Al-Sa’adi, Saudi Aramco’s Senior VP for Technical Services with executives of Contractor Managements. (Asharq Al-Awsat)
Ahmed Al-Sa’adi, Saudi Aramco’s Senior VP for Technical Services with executives of Contractor Managements. (Asharq Al-Awsat)

Saudi Aramco signed a contract with a consortium including Saudi Archirodon Company Ltd and Huta Hegerfeld AG Saudia Company for dredging, reclamation and marine structures for the King Salman International Complex for Maritime Industries and Services in the city of Ras al-Khair.

With investments reaching $6 billion, King Salman International Complex is an ambitious project that will help drive the Kingdom’s economic diversity and growth and localize energy sector industries.

Its location in the strategic Ras al-Khair area enables the complex to meet the construction needs of offshore oil and gas rigs, offshore platforms and support vessels, and a variety of maritime equipment and commercial vessels It will also provide them with maintenance, repair and overhaul services.

The contract is the first of its kind where contractors will conduct dredging and reclamation of about 37 million cubic meters of fill, in addition to ground improvement over an area of 7.4 million square meters.

The contract will also provide for constructing 4,500 linear meters of concrete quay walls and wharves and 12,000 linear meters of rock revetments and breakwaters to protect the integrity of the complex.

Saudi Aramco’s Senior Vice President for Technical Services Ahmed al-Sa’adi stated that it is an important milestone for King Salman International Complex for Maritime Industries and Services.

“The Complex is in line with the Kingdom’s economic diversification objectives, it will position the Kingdom as a strategic logistics hub and will create vast job opportunities,” he added.

Initial phase of the contract will be fully executed by 2020 and it is crucial for the whole program as it will prepare the project’s land for subsequent construction of a dry dock and ship building and maintenance facilities.

Custodian of The Two Holy Mosques King Salman bin Abdulaziz inaugurated the complex in November 2016 in Ras al-Khair, north of Jubail industrial city in the Eastern Province.

The complex complements the growth of the Saudi energy industry and helps to meet the development and diversification objectives outlined by Saudi Vision 2030.

The facility will offer quality, efficiency and economies of scale, and when completed will offer vessel and rig build, maintenance, repair and overhaul services. The project will comply with all of the Saudi government’s environmental and sustainability requirements.



China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
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China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)

China's car sales rose for a fourth consecutive month in May, but slower increases across major automakers highlighted concerns over aggressive price competition in the world’s largest auto market.

Sales grew 13.9% from a year earlier to 1.96 million vehicles last month, slowing from 14.8% growth in April, China Passenger Car Association (CPCA) data showed on Monday.

Sales of electric vehicles and hybrids rose 28.2% year on year, down from a 33.9% gain in April.

Leading EV maker BYD reported decelerating annual passenger vehicle sales growth to 14.1% last month from April's 19.4% despite a new round of subsidies and incentives late in the month.

Other major automakers, including Geely and Chery, also reported slower growth as the industry’s attention shifted to price wars that have raised concern over a potential market shakeout.

Authorities have warned that such price wars threaten the industry's long-term health, with the sentiments echoed by leading manufacturers such as BYD, Chery and Xiaomi.

The CPCA's secretary-general, Cui Dongshu, said the industry should focus on quality and technology innovation and that leading automakers should lower their sales targets for this year.

CPCA data also showed that car exports rebounded, rising 13.5% year on year in May, reversing a 2% decline in April.