Jadaf Dubai, Goltens sign ship repair facility deal
Dubai, August 29, 2010
Jadaf Dubai, one of the oldest ship repair yards in the Gulf, and Goltens, a global ship repair and maintenance specialist, have signed a long-term ground development lease agreement.
The agreement is for the establishment of a ship building and ship repair facility at the Industrial Precinct of Dubai Maritime City.
Under the Musataha lease agreement, DMC – Industrial Precinct plots 6 and 7 measuring about 23,000 sq m will be leased to Golten Co- Dubai Branch for a period of 25 years.
During the past five years, Goltens has established seven new global repair centres, lifting its annual ship repair revenue from $90 million in 2005 to approximately $200 million in 2010.
The agreement was signed by Hamad Al Maghrabi, managing director of Jadaf Dubai and director - shiplift, and Paul Friedberg, president of Goltens Co Ltd - Dubai Branch and Goltens Worldwide Services, at a ceremony held at Intercontinental Hotel – Dubai Festival City.
The agreement will strengthen Jadaf Dubai’s stronghold in the ship building and ship repair market. The Industrial Precinct is a part of Maritime City that is dedicated to ship repair facilities, yacht repair and manufacturing, as well as workshop units that service the needs of the maritime industry as a whole. – TradeArabia News Service