Saudi shipyard to secure future of the country's economy

Plans for a new giant shipyard in Saudi Arabia worth about USD 6 billion form part of the country's strategy to relieve dependence on especially the oil market. "This is with the future in mind," a source close to the project tells ShippingWatch.

Amin Nasser is CEO of Saudi Aramco, which is behind the new giant yard that Saudi Arabia plans to build | Photo: Jacques Brinon/AP/Polfoto/Arkiv

by KRISTOFFER VEGGERBY

Saudi Arabia's plans to establish a mega-yard are part of the efforts to make the country less dependent on oil income.

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