The National Shipping Company of Saudi Arabia(Bahri) (4030.SE) signed a memorandum of understanding (MoU) with Hyundai Heavy Industries, Lamprell  PLC and Saudi Aramco for the development of a maritime yard for ship building and offshore manufacturing, Bahri announced on 25 January 2016. Bahri had signed an MoU for the project with Saudi Aramco and Sembcorp in 2013 (recently expired in 4Q2016), which had no material implications on any of the involved parties. Meanwhile, Saudi Aramco moved forward with the negotiations by signing another MoU along with Hyundai and Lamprell; however, Sembcorp has decided to not carry forward with the negotiations. The newly-signed MoU will be valid until an investment decision is taken within one year; otherwise, it will expire. (Tadawul)