Lamprell in Preliminary JV Talks to Establish Maritime Hub in Saudi Arabia
January 26 2016 - 3:20AM
Dow Jones News
By Alex MacDonald
LONDON--U.K.-listed energy services firm Lamprell PLC (LAM.LN)
said Tuesday it has signed a preliminary agreement with state-owned
Saudi Aramco, the National Shipping Company of Saudi Arabia and
Hyundai Heavy Industries Co. Ltd. (009540.SE) to consider
establishing a Maritime Complex in Saudi Arabia.
The intended Maritime Complex will provide engineering,
manufacturing and repair services for offshore rigs, commercial
vessels and offshore service vessels.
Lamprell said the preliminary agreement may or may not lead to
its participation in the potential maritime joint venture, adding
that negotiations may last up to three months.
Write to Alex MacDonald at alex.macdonald@wsj.com
(END) Dow Jones Newswires
January 26, 2016 03:05 ET (08:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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