Tanker deal between Saudi-South Korea firms

South Korea's Hyundai Mipo will be building two chemical tankers for Saudi Arabia's National Chemical Carriers, NCC.

    Saudi Arabia is leading petrochemicals producer

    The $66.7 million deal was signed on Sunday between the two firms.

    The 183-metre long tankers will each have a deadweight of 46,200 metric tonnes and a capacity for 54,300 cubic metres of liquid petrochemicals, NCC said in a statement.

    Under the deal, Hyundai Mipo is scheduled to complete the construction of the tankers in 2005.

    NCC already has 12 tankers for transporting petrochemicals with a total capacity of 350,000 tonnes.

    Like most of the tankers, the two new carriers will be chartered to petrochemicals giant, Saudi Basic Industries Corportation, SABIC, on long-term contracts.

    Saudi Arabia is a leading petrochemicals producer with several million tonnes of output every year, mostly for export.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Zimbabwe military's statement after seizing power

    Zimbabwe military's statement after seizing power

    Major General SB Moyo addresses the nation after Zimbabwe's military seizes state TV, blocks off government offices.

    The Muslims of South Korea

    The Muslims of South Korea

    The number of Muslims in South Korea is estimated to be around 100,000, including foreigners.

    Aamir Khan: The Snake Charmer

    Aamir Khan: The Snake Charmer

    Can Aamir Khan create lasting change in Indian society or is he just another Bollywood star playing the role of a hero?