Gulf Navigation partners with Aramco, SABIC to expand in KSA

Gulf Navigation partners with Aramco, SABIC to expand in KSA
Gulf Navigation aims at raising its operations to 60% of its total business volume
Gulf Navigation GULFNAV -1.41% 1.40 -0.02
SABIC 2010 0.14% 99.50 0.14

By: Amr Adel

Dubai - Mubasher: The CEO of Gulf Navigation Holding revealed on Monday that his company is planning to expand in Saudi Arabia, by increasing its business volume from 40% to 60%.

Expanding operations in the Saudi market will be through increasing the number of petrochemicals carriers with Aramco and SABIC.

Khamis Juma Buamim told reporters that the company is currently in negotiations for strategic partnerships in Saudi Arabia, India, and Singapore.

As for Gulf Navigation’s plans in the UAE market, Buamim said that new expansions are planned in Abu Dhabi, Fujairah, and Khor Fakkan.

The group is also in talks to enter the Libyan market, but it is waiting for better circumstances there, the CEO noted.

Translated by: Moslem Ali

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Source: Mubasher Exclusive

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