ADSB in talks for deals with navy and coast guard

Abu Dhabi: Abu Dhabi Ship Building Company (ADSB) is negotiating two major contracts with the UAE navy and coast guard, a company official said yesterday.

"We hope that these new contracts will be signed and announced during Idex," William Saltzer, the company's chief executive, told Gulf News.

ADSB has recently introduced a new weapon system, Rolling Airframe Missile (RAM), to its Baynouna naval vessel, raising the value of the project to $1 billion. Six vessels are to be delivered to the UAE armed forces.

"Our strategy is to capitalise on our successful contracts with the UAE armed forces to expand in the GCC region," he added.

The company delivered a 64-metre vessel to the Royal Navy of Oman last year, and it is seeking to become a major regional player in shipbuilding, repair and support.

"We have tenders submitted in every GCC country," Saltzer said.

Turnover

The company's turnover in 2006 was Dh588 million, and it has orders estimated at Dh2.4 billion.

"Our operations are expanding rapidly as we have new ships under construction from steel, aluminium and composites, major upgrades of combat systems are underway, and we are expanding our shipyard to increase our capacity," he added.