Dubai: The Dubai Government owned Drydocks World will take on a role in the redevelopment of a former shipyard site in Montenegro. The transformation of the Bijela Shipyard, Boka Bay will be completed over a 36-month period and will see it evolve into a superyacht repair and refit facility.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said in a statement: “Drydocks World has played a key role in Dubai’s growth story, becoming a hub for the maritime industry in the Middle East."
The project came about after Group Adriatic Marinas - jointly owned by Investment Corporation of Dubai and Damen of the Netherlands - agreed that Damen's role in the shipyard redevelopment will be taken over by Drydocks World. Group Adriatic Marinas specialises in development and operations of marinas that can host superyachts.
"This partnership will ensure the Bijela Shipyard can be rapidly regenerated," said Bin Sulayem. "I am proud that Drydocks World, which has continuously and consistently delivered prestigious global projects, will be front and centre in this strategic development for Montenegro.”
There are plans to start some service-related work during the re-development phase.
In statement, Adriatic Marinas Chairman Mohammed 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. We will reposition Bijela to become one of the Mediterranean’s leading superyacht repair and refit facilities.”