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Saudi Aramco and Hyundai Heavy Industries (HHI) Group have signed a general memorandum of understanding (MoU) to collaborate on business development opportunities in Saudi Arabia. The MoU lays out a comprehensive, multi-faceted business cooperation framework in areas including engineering, procurement and construction, downstream, and the development of a casting and forging facility. It also covers the development of a maritime yard and the advancement of maritime diesel engine manufacturing in Saudi Arabia. The strategic alliance is expected to enable the two companies to meet growing demand in the Middle East. Photo: Saudi Aramco.

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