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Abu Dhabi-based AD Ports Group and leading Bahrain shipyard, ASRY, have recently signed three Heads of Terms (HoTs) agreements to collaborate on strategic maritime logistics and port development projects. These strategic partnerships, which aim to strengthen and diversify both parties’ maritime capabilities, follow the earlier establishment of ASRY Marine, a joint venture between Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, and ASRY, which focused on providing integrated marine services in Bahrain.
The two companies now plan to establish another joint venture, to manage drydock facilities and shipyards within the Gulf Cooperation Council (GCC) area and explore opportunities in other regions. In addition, both parties have signed a second agreement, with JM Baxi, an India-based business specialising in marine services, ports, logistics, and technology. This focuses on creating green ship recycling facilities through the environmentally responsible dismantling and repurposing of ships.
The third and final HoT signed by AD Ports Group and ASRY relates to exploring joint infrastructure investment opportunities within the ports and terminals sector. Through the creation of a formal collaborative framework and a dedicated working group the parties will draw on their joint expertise to identify areas of development with a high potential.
