Drydocks World, part of the DP World group, is joining a consortium that will invest in Montenegro’s former Bijela Shipyard with the aim of turning it into a leading superyacht service, maintenance, repair and refit facility.
The consortium formed by Adriatic Marinas, a subsidiary of the Investment Corporation of Dubai, and Damen, the Dutch shipbuilder and repairer, has agreed that Damen’s role in the redevelopment of the shipyard, now called Boka Bay Montenegro should now be taken up by Drydocks World. The Dubai yard is a leading provider of yacht servicing, maintenance, repair and refit as well as marine and offshore services to the shipping, oil, gas and energy sectors, and has significant relevant experience.
Adriatic Marinas’ Chairman, His Excellency Mohammed I. Al Shaibani, said: “We are delighted that our colleagues and partners at Drydocks World will bring their substantial resources and expertise to the project. Together we will reposition Bijela to become one of the Mediterranean’s leading superyacht repair and refit facilities.” He also thanked Damen for their “substantial efforts in helping bring the project to this point of acceleration.”
The transformation of the yard will be completed over a 36month period and will see it evolve into a superyacht repair and refit facility, with plans to start some service work during this re-development period. In addition to the yacht service centre, the consortium plans to establish a skills academy at Bijela to develop future generations of Montenegrin marine engineers.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World added: “By forging a consortium of this nature between Adriatic Marinas and Drydocks World, we are bringing together considerable combined resources and expertise to develop a world-class facility in Montenegro which will support the economy of the country. This partnership will ensure the Bijela Shipyard can be rapidly regenerated.”