IMI appoints Franman as new agent
Saudi Arabia’s shipbuilding and repair company, International Maritime Industries (IMI), has signed a deal with Athens-based Franman, a marine equipment and service provider with a history of more than three decades. An agreement was signed at Posidonia last week, appointing the Greek company as IMI’s exclusive agent for Greece and Cyprus.
IMI, the largest full-service shipbuilding and repair company in the Middle East North Africa (MENA) region, has unparalleled capabilities, with more than 11km2 of purpose-built facilities for the new construction and repair of ships including large tankers and bulk carriers, offshore support vessels, jack-up rigs and coastal vessels. It has a large range of drydocks, purpose-built newbuilding berths, and what is claimed to be the world’s largest ship lift facility with a capacity of more than 31,000 tonnes.
IMI’s acting chief executive officer, Feras Al-Sahan, said: “This partnership is another significant step in our journey to increase our geographical reach and deliver best-in-class services to global clients. We are confident that through our collaboration, as the largest full-service shipyard in the MENA region, and Franman’s expertise and far-reaching market presence in Europe, we can jointly unlock opportunities for the maritime sector and in turn spur economic growth.”
Costis Frangoulis, Franman founder and CEO, commented: “Our partnership with IMI is a significant milestone in Franman’s 33-year-long solid track record of representing leading international service providers to the maritime sector. This agreement could bring about mutually beneficial opportunities for both Franman and IMI, ultimately enhancing the maritime capabilities across our regions.
“Franman’s clients in Greece and Cyprus seeking enhanced capabilities, sustainability alignment and a strategic location for their MRO needs now have access to one of the most advanced and sustainability-focused maritime facilities globally located strategically at a key maritime route closer to home,” he added.
IMI’s massive complex is located in Ras Al-Khair on Saudi Arabia’s eastern seaboard. When it becomes fully operational, it will be capable of building four new offshore rigs and more than 40 ships each year as well as servicing hundreds of existing vessels of various types. The yard is a Saudi Aramco-sponsored joint venture with partners Bahri, Hyundai Heavy Industries, and Lamprell.
