Abu Dhabi - Abu Dhabi Ship Building (ADSB), the region's only specialist Naval and Para-Military shipbuilder, has signed a major contract with Bahrain's Ministry of the Interior. The contract, for the refit of ten coast guard patrol boats, marks ADSB's first export order for refits from another GCC country.
The composite patrol boats will be delivered to the ADSB shipyard in Mussafah, Abu Dhabi, where work will continue over a two-year period in the company's new 4,000 m2 air-conditioned Composite Workshop facility.
The vessels will undergo complete refurbishment, including new propulsion and auxiliary machinery, accommodation facilities and navigation equipment.
Bill Saltzer, CEO of ADSB said: "This contract is a major step forward in our business relationship with the Kingdom of Bahrain and we are proud to have been selected to carry out the work.
"We have invested US$8 million in our new Composite Workshop which now allows us to offer customers the benefits of a world class facility for the build of new composite boats and refit services. Winning this contract is an important milestone in ADSB's short history."
The current order book value for new vessels and refit projects at ADSB is now in excess of US$ one billion and the company is forecasting continuing growth as its business expands throughout the GCC market.
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About Abu Dhabi Ship Building
ADSB is a Public Joint Stock Company (PJSC) listed on the Abu Dhabi securities Market (ADDSM). The company was established in 1996 by the UAE Offsets Group (UOG) and has since built a strong reputation for high quality construction and repair of both military and commercial vessels.
ADSB is 10 per cent owned by the Abu Dhabi Government, 40 per cent by Mubadala Development Company and 50 per cent by more than 6,000 UAE National shareholders.
For further information:
William D Stewart
Vice President, Marketing
Tel: +971 2 5028000
Stewart_w@adsb.ae
© Press Release 2007
