Privinvest Forms Shipbuilding JV in Angola
Privinvest forms joint venture for shipbuilding and the maritime economy in Angola where, together with Simportex, it will develop and operate a shipyard
Middle East based shipbuilding group Privinvest announced the start of a major shipbuilding and maritime economy program with the Republic of Angola that will initially see the shipbuilder provide a range of vessels for the Angolan Navy.
In parallel, Privinvest together with Simportex, will develop and operate a shipyard in Angola to build new ships, service ships and provide a wide range of servicing facilities for the existing fleet, Privinvest said.
In addition to supplying a number of ships, Privinvest will be provide a Transfer of Technology to enable the construction of naval vessels in Angola.
According to Privinvest, the initiative is a component of its investment strategy in Angola and the strengthening of business relations between Privinvest and the Republic of Angola, as part of the commitment to the development of the country’s maritime economy.
Boulos Hankach, President of Privinvest Shipbuilding Investments LLC, said, “This marks another step in our cooperation with one of the most dynamic economies in Africa. It shows that we have the skills and capabilities that generate appetite to promote high-level programs in countries around the world.”