UAE-based Grandweld Shipyards secures contract for five crew boats

The fund is 99.25% owned by Abu Dhabi’s Eshraq Investments since its acquisition earlier this year

Staff Writer, ZAWYA

October 17, 2022

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Eshraq Investments-owned Goldilocks Fund says its portfolio company Grandweld Shipyards has secured a contract to build five crew boats for Jana Marine Services Co.

Eshraq said in a statement to Abu Dhabi Securities Exchange (ADX) that the new contract will bring the total number of vessels built by Dubai-based Grandweld for Jana to 12.

Grandweld is a Stanford Marine Group company, fully owned by Thalassa Investments, which is in turn 46.7% owned by Goldilocks, the statement added.

Jana provides offshore marine services to the oil and gas sector and to offshore construction and maintenance projects.

Eshraq completed its acquisition of 99.25% of the Shuaa Capital managed Goldilocks Fund in August.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@lseg.com

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