Advertisement
UK markets close in 7 hours 59 minutes

  • FTSE 100

    8,130.12
    +51.26 (+0.63%)
     

  • FTSE 250

    19,690.50
    +88.52 (+0.45%)
     

  • AIM

    754.95
    +1.83 (+0.24%)
     

  • GBP/EUR

    1.1652
    -0.0005 (-0.04%)
     

  • GBP/USD

    1.2504
    -0.0007 (-0.05%)
     

  • Bitcoin GBP

    51,582.23
    +191.24 (+0.37%)
     

  • CMC Crypto 200

    1,387.36
    -9.17 (-0.66%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CRUDE OIL

    84.15
    +0.58 (+0.69%)
     

  • GOLD FUTURES

    2,356.40
    +13.90 (+0.59%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,644.74
    +360.20 (+2.08%)
     

  • DAX

    18,010.95
    +93.67 (+0.52%)
     

  • CAC 40

    8,042.49
    +25.84 (+0.32%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

Saudi Aramco signs joint venture deal to build shipyard

Reuters - UK Focus

DUBAI, May 31 (Reuters) - Saudi Aramco said on Wednesday it had signed a joint venture agreement with three firms to build a shipyard on the kingdom's east coast, part of the government's drive to diversify the economy beyond oil.

A shareholder agreement was signed with National Shipping Co of Saudi Arabia (Bahri), a state-controlled firm which ships oil for Aramco, as well as London-listed Lamprell Plc (Frankfurt: L51.F - news) , a United Arab Emirates-based engineering firm, and South Korea's Hyundai Heavy Industries Co.

Aramco, which announced a memorandum of understanding for the project in January 2016, gave no financial details of the joint venture.

It has previously said the project will cost over 20 billion riyals ($5.3 billion). (Reporting by Andrew Torchia; editing by Jason Neely)