AD Ports Group and the Arab Shipbuilding & Repair Yard Company have signed three Heads of Terms that pave the way for far-reaching cooperation across Bahrain’s maritime and ports sectors.
The agreements build on the recent launch of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluste,r and ASRY, created to deliver integrated marine services throughout the country.
The first HoT outlines the formation of a joint venture to manage and develop drydock and shipyard facilities. By combining their established expertise, the partners aim to expand dry-docking and shipbuilding capabilities within the GCC and explore opportunities in other regions.
The second HoT, signed together with Indian maritime specialist JM Baxi, targets the creation of green ship-recycling facilities that meet Hong Kong Convention standards.
Under the third HoT, AD Ports Group and ASRY will establish a working group to identify and pursue joint investment prospects in ports and terminals, leveraging their combined operational and development know-how.
Captain Mohamed Juma Al Shamisi, Managing Director and CEO at AD Ports Group, highlighted that developing green ship-recycling capacity aligns with the end-of-life vessel management.
Dr. Ahmed Al Abri, CEO of ASRY, added that pooling expertise and infrastructure will enhance dry-docking and shipbuilding across the GCC, enter the vital field of green recycling, and explore new opportunities in port management.
