Business | Shipping
Zamil Group in talks to set up unit in Sharjah
Saudi Arabia's Zamil Group has said it was in talks with Sharjah authorities to set up a shipyard there.
- Staff Report
- Published: 00:00 May 15, 2006
Dubai: Saudi Arabia's Zamil Group has said it was in talks with Sharjah authorities to set up a shipyard there.
It plans to set up facilities to build and repair vessels, Zamil's marine business development consultant Hassan Abouraya said. "The UAE is an important market. We want to have a presence here."
Zamil's marine business division owns 39 vessels and most of them are on long-term charter with Saudi Aramco.
Abouraya said Zamil is building and buying vessels because there is a shortage of vessels. "Oil companies are expanding exploration activities because of high oil prices. They cannot find enough offshore vessels for charter," he said. Aramco has signed contracts with local suppliers for 28 vessels in 2006 and Zamil has got an order for nine vessels, Abouraya added.
The company sees demand for its 64-metre Zamil Class anchoring handling tug supply vessels.
Zamil's almost entire fleet is supporting Aramco's operations, but the company is keen to grow its business globally. "We want to expand outside Saudi Arabia and provide vessels for charter in India, Iran and other places in the Gulf."
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