Manama: His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Work and Youth Affairs and Chairman of the Board of Directors of Bapco Energies, attended the signing of three cooperation agreements between the Arab Shipbuilding and Repair Yard (ASRY) and Abu Dhabi Ports Group (ADPORTS:ADX). The agreements aim to enhance cooperation in key maritime sectors, contributing to the expansion of sustainable marine industries and services in Bahrain and supporting the shift towards a circular economy.
According to Bahrain News Agency, Shaikh Nasser emphasized the potential of these agreements to advance Gulf cooperation and solidify Bahrain's role as a regional center for marine industries. He highlighted the importance of investing in quality partnerships to make Bahrain more competitive in marine industries and logistics. The agreements are seen as a testament to Gulf expertise collaborating with international partners, opening avenues for growth in dry dock management, shipbuilding, and environmentally responsible ship recycling.
The first agreement involves the creation of a joint company to manage dry docks and shipyards, leveraging the facilities of both parties. This initiative aims to enhance dry dock and shipbuilding capabilities within the Gulf Cooperation Council and explore expansion into other markets.
The second agreement focuses on cooperation in port management and operations, while the third agreement involves collaboration with JM Baxi to develop facilities for sustainable ship recycling. This initiative aims to promote the circular economy by reusing ship parts and reducing waste, thereby contributing to carbon emission reduction and environmental conservation.
Captain Ammar Al Shaiba, CEO of Maritime and Shipping Cluster at AD Ports Group, expressed optimism about the joint venture with ASRY. He emphasized the intention to strengthen their partnership in shipbuilding and dry dock services and highlighted the focus on developing advanced, environmentally friendly ship recycling facilities.
Dr. Ahmed Al Abri, CEO of ASRY, expressed pride in the expanded strategic partnership with AD Ports Group. He noted that the collaboration builds on shared expertise and infrastructure, aiming to enhance dry dock and shipbuilding capabilities in the GCC and beyond, while also entering the field of port management and operations. He stressed that these steps reaffirm a commitment to innovation, operational excellence, and growth in the maritime sector.
These agreements build upon the ASRY Marine joint venture, established between Noatum Maritime (part of AD Ports Group) and ASRY, to offer a full range of marine services in Bahrain. This cooperation represents a strategic move to enhance the maritime capabilities of both parties, fostering investment, innovation, and growth in the sector.