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Saudi Arabia Plans Shipbuilding Complex to Support Oil Exports

Saudi Arabia will build a maritime complex on its east coast, with shipbuilding capability, to provide sufficient capacity for exporting oil, Energy Minister Khalid Al-Falih said Sunday.

The country, the world’s largest oil-producing nation, eventually will have a shipping fleet that will match its oil capabilities, Al-Falih said in Riyadh. Saudi Arabian Oil Co., or Aramco, will need more tankers to meet global demand, he told reporters.