State-owned petroleum and natural gas company Saudi Aramco, National Shipping Company of Saudi Arabia (Bahri), UAE rig builder Lamprell and South Korea’s Hyundai Heavy Industries (HHI) signed a joint development agreement in June to assess the operational, financial, personnel and legal aspects of the project.
The Feed development study is slated to take five months according to a statement by HaskoningDNV and would appear to be a precursor to a final investment decision (FID) on the project, which is claimed to be the largest of its type in the world.
Those negotiations, which follow a MoU signed in January to undertake preliminary due diligence and feasibility studies, appear to have gathered pace despite no official word from any of the founding four companies confirming the HaskoningDHV UK- Hyundai Engineering & Construction deal.
The yard, located north of Jubail on the Arabian Gulf, will reportedly boast seven fully-equipped dry docks, two basins and five piers, a ship-lift system, workshops, warehouses and utility services areas. Lamprell has previously told Seatrade Maritime News that the yard will employ up to 50,000 people at peak production but the latest reports outline plans for office buildings, accommodation and recreational facilities for “more than 10,000 workers”. 
Royal HaskoningDHV project director Adrian Arnold said the company was looking forward to combining its shipyard consultancy expertise with Hyundai E&C’s track record in engineering procurement construction (EPC) projects.
“Maritime yards must be globally competitive, with facilities which are cost-effective, operationally flexible, and durable,” Arnold said.
“This project combines four different yards into a single development, creating significant opportunities for economies of scale and enhancing the country’s economic development.”
Royal HaskoningDHV were commissioned to complete the initial market study for the yard in 2014. The front-end engineering design development work is scheduled to take five months.
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