Dubai: Dubai Drydocks has put down its anchor out on the European coast, for a massive shipyard that will service and repair some of the biggest vessels around.
For this, a new company - Adriatic42 – has been launched featuring Dubai Drydocks (part of the DP World stable) and Investment Corporation of Dubai owned PM Holdings llc. The announcement marks the beginning of ‘significantly enhanced operations’ at the facility in Bijela, Herceg Novi, Montenegro.
The world's largest sailing yacht, Black Pearl, became the first boat to dock in Adriatic42's yard earlier this month for its ongoing refit. The Government of Montenegro had earlier granted a 30-year concession for the new entity to manage the shipyard, formerly known as Bijela, and located in ‘one of the safest natural harbours in the world’. The shipyard is passing through a complete redesign, thus transforming into a ‘premium superyacht refit and maintenance facility’.
Adriatic42 employs around 100 staff. The former shipyard, nearly 100 years old, was the largest ship repair yard in the Southern Adriatic.” The new joint venture will extend this maritime heritage. Its location in one of the most sought-after seas in the world, makes it a haven for the global luxury yachting community,” DP World said in a statement.
"From this day onwards, the launch of Adriatic42 puts Montenegro at the centre of the world’s nautical tourism industry,” said Milo Đukanović, President of Montenegro.
“Adriatic42’s comprehensive facility and service offerings from quality repairs and fabrication, as well as moorings, will allow yacht owners to enjoy Montenegro’s world-class marinas all year round.
"We now have an international standard marina and refurbishment facility in the country, which further positions our nation as a prime tourism destination in Europe and the Mediterranean.”