Drydocks World, a DP World company, will transform and redevelop the Bijela Shipyard, located in Boka Bay in Montenegro, into a superyacht service, maintenance, repair, and refit facility.
The company will work with a consortium comprising Group Adriatic Marinas (ADM) — fully owned by the Investment Corporation of Dubai (ICD) — and Damen, the Dutch shipbuilding group.
Following an agreement, Damen’s role in the redevelopment of the former Bijela Shipyard will now be taken up by Drydocks World – Dubai, a provider of yacht service, maintenance, repair, and refit as well as marine and offshore services to the shipping, oil, gas, and energy sectors.
Drydocks World – Dubai’s involvement in the Bijela Shipyard project brings considerable experience, capabilities, and resource to the consortium. It will also be key to creating a super yachting hub in Boka Bay and achieving its ambitions of driving major development for Montenegro.
Commenting on the agreement, chairman of ADM, HE Mohammed I. Al Shaibani said: “This exciting project will not only regenerate the shipyard at Bijela but the whole marine engineering industry, and bring back to life the long and proud maritime history of Montenegro.
“Drydocks World will bring its substantial resources and expertise to the project. Together we will reposition Bijela to become one of the Mediterranean’s leading superyacht repair and refit facilities.”
Upon completion of the government remediation works, the transformation of the yard by the consortium will be completed over a 36-month period and will see it transform into a superyacht repair and refit facility. Plans also include stating service work during the re-development period.
In addition to the yacht service centre, the consortium plans to develop a skills academy at Bijela for the future generations of marine engineers in Montenegro.
The skills academy will partner with the Superyacht Operations Training Academy at Porto Montenegro, which has been created in partnership with the UK’s Warsash Maritime Academy.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World said: “Drydocks World has played a key role in Dubai’s growth story, becoming a hub for the maritime industry in the Middle East.
“By forging a consortium of this nature between Adriatic Marinas and Drydocks World, we are bringing together the considerable combined resources and expertise to develop a world-class facility in Montenegro which will support the economy of the country.”
“This partnership will ensure the Bijela Shipyard can be rapidly regenerated,” added Bin Sulayem.
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