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The Ras al-Khair Special Economic Zone (SEZ) is attracting global investments by leveraging partnerships with major maritime players and securing backing from the Saudi government. The King Salman International Complex for Maritime Industries and Services aims to be the largest shipyard in the MENA region, focusing on shipbuilding, repair, offshore rig fabrication, and utilizing modern technologies like AI and IoT. The SEZ has established key entities to meet the region's growing demand for maritime applications.
International Maritime Industries (IMI), Saudi Engines Manufacturing Company (MAKEEN), McDermott Arabia Company Limited, and Aramco-Baosteel steel plate plant are some of the entities within the SEZ. IMI has already secured significant offtake agreements with partners Aramco and Bahri, totaling US$10 billion over 10 years. The SEZ offers competitive incentives for investors, including tax benefits and customs duties deferral, to attract both local and international investors.
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