ASRYASRY unveils $188m expansion plan

With the formal launch of the $20 million two Slipways project, Arab Shipbuilding and Repair Yard Company (ASRY)Arab Shipbuilding and Repair Yard Company (ASRY) has entered into a new era of progress and development. The company has also announced $188 million ambitious expansion plan to be executed in next 30 months, a top official at the company said.

ASRYASRY's Chairman Shaikh Duaij bin Salman bin Duaij Al Khalifa, who officially unveiled the project at the company's premises in Hidd termed the launch of Slipways project as a turning point in the history of ASRYASRY.

Present were the board members of the company, guests, ship owners and representatives of shipping industries.

Shaikh Duaij said: "The launching of the two Slipways is a major development for ASRYASRY in its continuous commitment to provide its customers with services and facilities that match high international standards. ASRYASRY has been greatly encouraged by the enormous interest shown by the ship owners about this project and I am pleased to announce that the unofficial operation of the two Slipways started on 1st July 2008 and the number of ships which used their facility has so far reached eleven."

The two Slipways, each with a total length of 510 metres and a dry berth length of 255 metres are the largest in the Middle East and among the largest ship recovery Slipways in the world. The total cost of this project was $ 20 million.

He added: "This project will be the beginning of a new phase of development and expansion for ASRYASRY to meet its strategic objectives in the coming years. I would like to announce that the Board of Directors approved last month a new ambitious expansion project comprising of construction of basic quay wall and an offshore launching pier at an estimated cost of $188 million. The General Assembly will meet tomorrow for approval of this project."

Shaikh Duaij thanked the companies and the organisations which contributed to the construction of the Slipways and berth and also thanked all who participated in achieving this project.

ASRYASRY Chief Executive, Chris Potter, said: "The Slipways have become fully operational in 10 months' efforts and we are experiencing a lot of interest from owners of vessels in the growing small to medium size market. Dredgers, oil and gas support vessels and tugs operating in the Qatar and Saudi Arabian fields as well as locally owned vessels are so far the early clients for the slipways."

"The upcoming expansion for berthing facilities will help ASRYASRY to enhance its facilities for the future business growth."

By Mahmood Rafique Business Correspondent

© Bahrain Tribune 2008

 

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