Bahrain's Asry to explore JVs with Greek shipyard

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MANAMA: Arab Shipbuilding and Repair Yard (Asry) has signed a memorandum of understanding with ONEX Shipyards Greece under which the two will collaborate on knowledge and experience sharing in maritime repair, technology, optimisation, modernisation and explore future business opportunities.

The signing of the MoU by Mazen Matar, managing director and board member of Asry, and Panos Xenokostas, president and chief executive of ONEX Group, took place virtually in the presence of Greek Prime Minister Kyriakos Mitsotakis, who was visiting ONEX Shipyards at the time.

Mr Mitsotakis expressed his appreciation for Asry in taking the step to engage with one of the historical Greek shipyards which was a reflection of Bahrain’s advanced capabilities.

Commenting, Mr Matar said: “We are looking forward to the positive results of this MoU, which opens up a new horizon for the development of Asry’s business on an international scale.”

He added: “For decades now, Asry has been working with and providing its services to major Greek ship owners. The signing of this MoU only strengthens these relations and take them to broader dimensions not only for the repair and maintenance of Greek ships, but for entering partnerships with Greek shipyards.

On his part, Mr Xenokostas expressed his pleasure at signing the MoU with Asry and commented: “We are very pleased to join forces with the Arabian Gulf’s leading maritime and industrial optimisation yard. Together we can implement the best practices and exchange valuable know-how for the benefit of our shared clientele. Our alliance will leverage our competitiveness to address the global market, so we look forward to start unfolding all this great potential of our cooperation the soonest possible.”

Headquartered in New York, ONEX Shipyards and Technologies Group was established in 2004.

Its diversified portfolio of activities includes shipbuilding, ship repair, homeland security, defence, aviation, maritime, ICT, IoT, energy and more, with global partnerships and customers.