Drydocks plans $300m marine centre in Indonesia
Dubai, October 21, 2008
Drydocks World, a part of Dubai World, will open a Dh1.1 billion ($300 million) marine services centre on Batam Island, Indonesia, as part of the company's expansion plans in Southeast Asia, a report said.
The project will be a joint venture between Drydocks World and Dubai-based steel fabrication firm Fabtech, in which Drydocks will have 80 per cent stake, Geoff Taylor, CEO of Drydocks was quoted as saying in the Gulf News report.
The marine services centre will be the largest project of Drydocks, spanning 172 hectares, which is 22 per cent more than the total area of the three shipyards on Batam and one in Singapore operated by the company.
'This centre will be like Jadaf,' Taylor said, referring to Drydocks' Al Jadaf ship repair services complex in Dubai.
Batam Island has over 60 shipyards, with Drydocks World being a major player.
Drydocks marked its entry into Southeast Asia last year after it acquired Singaporean firms Pan United Marine Limited and Labroy Marine Limited.