Abu Dhabi Ship Building, Drydocks World Sign Strategic MoU

12.01.2016 Joint Ventures
Abu Dhabi Ship Building, Drydocks World Sign Strategic MoU

Abu Dhabi Ship Building, Drydocks World Sign Strategic MoU

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Abu Dhabi Ship Building PJSC (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, and Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sector, signed a Memorandum of Understanding (MoU) to create an industrial entity to strengthen maritime projects in the UAE and across the GCC.

Dr. Khaled Al Mazrouei, Chief Executive Officer of ADSB and Dr. C.S Kim, President and Chief Operating Officer of Drydocks World, signed the agreement to establish a strategic partnership to support the local maritime services and industries. The MoU aims to enhance knowledge transfer and capabilities exchange between the two companies and is the basis for future cooperation agreements.

Commenting on the occasion, Al Mazrouei said: “This agreement is a testament of ADSB’s regional naval and commercial maritime expertise. We are excited to partner with Drydocks World. It will open new horizons for establishing cooperation between our two companies, and will support the national economy in maritime services. I am confident in the success of our new partnership offering best-in-class naval and commercial vessel maintenance services to the GCC and beyond.”

Dr. Kim noted: “Drydocks World is investing in quality management systems to improve efficacy of our navigational and maritime services that will shape the future of the industry, locally and internationally. Our strategy is to promote the value of quality and become and even more globally competitive company. Together with ADSB we will offer the best international quality for years to come.”

ADSB and Drydocks World will work together to achieve strategic growth in the UAE maritime sector. In line with the UAE leadership’s vision to achieve distinction in this sector via acquiring more projects of mutual interest.

Established in 1996 and headquartered in Abu Dhabi, UAE, ADSB was originally formed to support the repairs and refits of UAE Navy vessels. Joint ventures and service agreements with world renowned companies allow ADSB to provide world-class support services to GCC maritime security forces.

ADSB is, 10% owned by Abu Dhabi’s government, 40% by Mubadala Development Company, and 50% publicly traded on the ADX, Abu Dhabi’s Securities Exchange. The company employs more than 1,200 employees

Drydocks World-Dubai has become a leading provider of marine and offshore services to the shipping, oil, gas and energy sectors over the past 33 years. Conceived as an ambitious project under the guidance of H.H. Sheikh Rashid Bin Saeed Al Maktoum the late Ruler of Dubai, the yard is located in a strategic location and in one of the most rapidly developing regions of the world.

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