AD Ports Group and Premier Marine Engineering Services LLC (Premier Marine), a UAE-based shipyard company specialising in ship building and repair services to marine and offshore industries, announced the formation of a new joint venture, SAFEEN Drydocks.
More specifically, the joint venture is structured as 51% ownership by AD Ports Group and 49% by Premier Marine.
The hub of SAFEEN Drydocks’ operations will be located at Khalifa Port in UAE and encompass a 45,000 m² shipyard and repair facility, 350 m quay wall for vessel afloat repair, and a floating dry dock for vessel maintenance and refurbishment.
Moreover, the floating dry dock is expected to commence operations in July 2023, while the shipyard has already begun work with the construction of two barges for a UAE-based client. Once fully up and running, the hub will be operated by SAFEEN Drydocks.
According to AD Ports, the new enterprise will offer a broad range of vital services including drydocking, afloat repairs, ship building and refurbishment.