Marine link
 

NNS To Develop Construction, Repair Facility In UAE

Tenneco, Inc. announced that its shipbuilding division won a major competition to develop a new shipbuilding and ship repair business in the United Arab Emirates (UAE). The UAE Offsets Group and Newport News Shipbuilding (NNS) signed a letter of intent to develop a new business venture, Abu Dhabi Ship Building Co. (ADSB), for the construction and repair of naval and commercial ships.

Abu Dhabi Ship Building will be located in the Mussafah Industrial Area adjacent to the Mussafah Channel. It will provide repair services for commercial and naval ships operating in UAE and regional waters. New construction capabilities will include commercial tugs, boats, barges and Naval and Coast Guard ships.

The venture will be a public joint stock company, with the UAE's National Invester, ION, serving as investment advisor and coordinator, and the UAE Offsets Group anticipates that a number of investors from the UAE will be interested in the new company. The investment advisor and coordinator will lead a team which includes the National Bank of Abu Dhabi, Ernst & Young, the UAE law firm Hadef-Al-Dhahiri and Assoc. and the international law firm.

It is intended that this new company provide a profitable investment opportunity, with the majority of the shares in the shipbuilding and ship repair business to be held locally," a spokesman for the UAE Offsets Group said. "Other benefits should include the transfer of shipbuilding know-how into the UAE, development of a naturalized shipbuilding workforce, establishment of a local, cost-competitive major refit service for the UAE Naval forces and Coast Guard, as well as civilian operators, and the provision of world-class quality in ship repair and construction." The company's initial focus will be on the ship repair side, expanding to the construction of larger vessels as heavier lift capability and equipment come on line.




Shipbuilding / Vessel Construction History

1995 Sname Annual Meetinng & International Maritime Exposition
American Shipbuilding Issociation
Bender Shipbuilding Proposal Selected For Maritech Fundin
BENELUX: Carving IPs Niche
BIW Sale Invites Industry Speculation
Changes at Malta Drydocks
Consolidation of Power
DEFENSE CONVERSION ACT
Expansion Via Acquisition
German, U.S. Ties Strengthened Via SMM Partnership
Intergraph Expands Capabilities For Ship Design And Production CAD/CAM Systems
Kockums To Launch New Generation Of Shipbuilding Systems
MarAd News Title XI
McDermott Enters Russian Shipbuilding Venture
McDermott: Blazing A Unique Trail Towards International Business
Navy's Newest Amphibious Assault Ship Commissioned At Ingalls
NEVA '93 The International Shipping Exhibition with Russia and the Republics St. Petersburg, September 14-18
New facility broadens Dutch yard's scope
Newport News One Of Two Finalists For Sabine Double- Hull Refit Contracts
NNS To Develop Construction, Repair Facility In UAE
Pragmatic Research
SCA: OECD Talks Fail On Jones Act, European Export Credit Issues
Set four Clock For 2002: New ASIS report finds that next big push of tanker building to tab place between 2002-2004
Shipbuilding In the BENELUX Countries
South Korean Curbs On Shipbuilding To End Amid Controversy
Strategic Value Added: Navy-Industry Cooperation for the Future
That's The Way It Is
U.S. Named Official Partner Country At SMM '96
USS Inchon Redesignated For N ew Mine W a r f a r e Mission
World Shipbuilding Associations Address Commercial Fleet Safety
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright