Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced that Royal Inauguration Ceremony for the King Salman Global Maritime Industries Complex was held on Nov. 29 at Ras Al-Khair, Saudi Arabia, with the attendance of His Majesty King Salman bin Abdulaziz Al Saud.
The ceremony was also attended by Mohammad bin Salman Al Saud, Saudi Arabia Deputy Crown Prince; Khalid A. Al-Falih, Saudi Arabia Minister of Energy, Industry and Mineral Resources; Amin al-Nasser, president and CEO of Saudi Aramco; Choi Kil-seon, Chairman of HHI; Chung Ki-sun, Executive Vice President of Corporate Planning Office of HHI.
King Salman Global Maritime Industries Complex, being executed as part of the country’s growth and economic diversification strategy “Vision 2030” is Saudi Arabia’s first national industrial project that is named after King Salman.
The ceremony is a followup of the MOU for New Business Opportunities Collaboration signed in November 2015 between HHI, Saudi Aramco, Lamprell and Bahri for businesses including the maritime yard, marine engine and industrial plant. Under the MOU, HHI plans to pursue cooperation with the establishment of a joint venture with the parties.
Chung Ki-sun, who is leading the project on HHI side, said, “We are pleased to be taking part in the first national industrial project of Saudi Arabia named after His Majesty King Salman bin Abdulaziz Al Saud.
We will make our utmost efforts not just to make this occasion an opportunity to serve as a stepping stone for the take-off of our business, but also to make contributions to the economic development of Saudi Arabia. We will follow the successful example of the King Fahd Industrial Seaport in Jubail that HHI built about 40 years ago and has been playing a leading role for the development of Saudi Arabia.”
Upon completion by 2021, the $4.3 billion project will consist of a 4.96 million square meter maritime complex at the site for commercial ship and offshore facility construction, as well as ship repair service. In a separate meeting on Nov. 30, Amin al-Nasser, Choi Kil-seon and Chung Ki-sun discussed ways to solidify cooperation.
“Once completed, we see the development of the complex will be accelerated through the transfer of HHI’s shipbuilding expertise and shipyard operating know-how.” an HHI official said.
(From right in front row) Choi Kil-seon, HHI Chairman; Amin al-Nasser president and CEO of Saudi Aramco; Chung Ki-sun, Executive Vice President of Corporate Planning Office of HHI; and Yasser Mufti, Executive Director of New Business Development of Saudi Aramco.
HHI, KEPCO Receive AIP for 2MW Supercritical CO2 Power Generation System
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and Korea Electric Power Corporation (KEPCO), a leading utility firm in South Korea, announced on Nov. 1 that they received an Approval in Principle (AIP) for a 2MW Supercritical CO2 (S-CO2) Power Generation System. The system will recover waste heat of a diesel/gas engine from Lloyd’s Register.
The two companies plan to commercialize the next generation S-CO2 system by 2019.
S-CO2 is a fluid state of carbon dioxide where it is held above its critical pressure and critical temperature, which causes the supercritical state to go beyond liquid or gas into a phase where it acts as both.
The S-CO2 system runs generators by utilizing the CO2 as a working fluid for power generation. Since S-CO2 is denser than the working fluids in gas turbines and steam turbines, the S-CO2 turbine can be designed at roughly a third of size compared to steam turbines for the same output, with 30 percent increased energy efficiency.
The S-CO2 system can use various energy sources, including coal-fired power plants, renewable energy, nuclear energy as well as waste heat coming from onshore engine power plants and marine engines of large-sized ships.
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