ASRY, the Bahrain-based maritime repair and fabrication facility, has confirmed its commitment to support the industrial service sector with the launch of a Fabrication & Engineering division.
The new arm of the company, which provides modular fabrication, steel structures, piping solutions, offshore structures and vessel construction, is the fourth division within ASRY’s corporate structure. The others are Repair & Conversion, Rig Repair & Conversion and Naval Repair & Conversion.
ASRY Chief Executive, Andy Shaw, said at an event to announce the new division, “Fabrication and engineering are already part of ASRY’s DNA as they are key elements in our ship and rig repair business. Now we are deploying those years of expertise as their own independent revenue stream. There is significant growth potential in the regional fabrication sector, starting with Bahrain, where our new ownership structure as a Bahrain government-owned entity will provide stability and longevity to meet fabrication clients long-term needs.”
The move is in response to growing demand in the region for high quality fabrication facilities. The company estimates that there is currently approximately US$490 billion worth of projects at the pre-execution phase across the GCC in the power, gas, oil, chemical, water and industrial sectors. With insufficient fabrication facilities in the region to meet this demand, ASRY believes its experience, facilities and manpower make it well placed to capitalise on this market.