"Abu Dhabi Ports" Acquires Spanish shipyard "Balenciaga Astelleros"
ABU DHABI, January 20, 2017 (WAM) – Abu Dhabi Ports Group announced that Sven Drydocks, a subsidiary of the group, and part of Notom Marine, has acquired 100% ownership of the Balenciaga Astelleros shipyard, one of the most prominent and technically advanced shipyards in Spain, for a total value of 11.2 million euros.
This acquisition strengthens Abu Dhabi Ports Group’s operations in Spain and the Mediterranean region, and supports its growing expansion in the offshore wind energy sector.
The shipyard is located in the Basque Country and will continue to operate under the name Balenciaga Shipyard. It has nearly a century of shipbuilding experience, supported by an advanced infrastructure that includes two dry docks, a 105-meter house, a factory extending over an area of 22,385 square meters equipped with the latest automation and manufacturing technologies, in addition to a dedicated cutting and manufacturing facility with an area of 3,530 square meters.
The yard is one of the leading facilities in the manufacture of large prefabricated structures for marine projects, and one of the most prominent shipbuilding facilities of high engineering complexity.
It is also one of the few shipyards in Spain specialized in building advanced service operations vessels used as floating bases for offshore wind farms, as well as research vessels, offshore support vessels and specialized tug vessels.
Captain Ammar Mubarak Al Shaiba, CEO of the Maritime and Shipping Sector, Abu Dhabi Ports Group, said: “This acquisition is a solid evidence of our strategy aimed at achieving international expansion and diversifying our business portfolio. The advanced expertise of Balenciaga Shipyard in the field of building advanced ships, especially ships designed to serve the offshore wind energy sector, will contribute to enhancing our ambitions and supporting the transfer of knowledge and adopting best practices across the operations of the “Safin Drydocks” company.
He added, “Integrating one of the most advanced shipyards in Spain into our portfolio will enhance our capabilities to support the global transition towards clean energy, contribute to providing high-value job opportunities, and create economic opportunities in vital markets.”
This investment enhances Abu Dhabi Ports Group’s growing contribution to the global offshore wind energy generation market, especially following the recent announcement of its partnership with “Masdar” to cooperate in developing and implementing offshore wind energy generation projects.
With demand for specialized service operations vessels expected to increase in the coming years, the Balenciaga Shipyard’s strategic location near the North Sea and European markets will enable it to play a vital role in meeting this demand, supporting the Group’s strategy to develop advanced capabilities in the field of offshore wind energy.
It is expected that this acquisition will also contribute to achieving economic benefits to the region by providing more than 50 new specialized jobs to support existing advanced ship projects, in addition to future projects that will be implemented in partnership with “Safin Drydocks” and Abu Dhabi Ports Group’s international partners, as well as contributing to meeting the requirements of the Abu Dhabi Ports Group fleet.
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