IMI Signs Contract to Build Three Very Large Crude Carriers Worth Approximately SAR1.692 Billion
The International Maritime Industries (IMI) announced on Sunday that it has signed a contract with Bahri to build three very large crude carriers (VLCCs), with a total value of approximately SAR1.692 billion. The contract was signed on the sidelines of the Saudi Maritime and Logistics Congress.
Each of the three carriers will have a deadweight tonnage (DWT) of 320,000 tons and will be equipped with advanced energy-efficiency technologies. The vessels are scheduled for delivery between 2029 and 2030.
IMI CEO Abdullah Al-Ghamdi said the move reflects the continued development of Saudi Arabia's maritime industries sector. He expressed his aspiration to support Bahri's future needs and contribute to localizing shipbuilding, in line with the objectives of Saudi Vision 2030.
Bahri CEO Ahmed Alsubaey stressed that fleet modernization is a key pillar of the company's long-term strategy. He noted that the agreement will enable Bahri to strengthen its capabilities with modern, more efficient vessels while expanding cooperation with IMI and supporting the development of Saudi Arabia's maritime supply chains.
Headquartered in Ras Al-Khair, IMI is the largest maritime facility in the Middle East and North Africa, with global ambitions and a growing international presence. Once its shipyard is fully operational, the company will be able to build six new offshore drilling rigs and more than 40 vessels annually, including VLCCs. It will also be able to provide maintenance and repair services for up to 250 vessels and 15 drilling rigs each year.
The shipyard's infrastructure will incorporate state-of-the-art technologies, including artificial intelligence and biometric indicators, giving customers a competitive advantage in keeping pace with the demands of the digital age.
