Written by TVT Marine
Wednesday, 20 January 2010 03:11
South Korea’s STX Offshore & Shipbuilding said on January 19th that it has signed a memorandum of understanding with Abu Dhabi Shipbuilding (ADSB) for co-operation in shipbuilding industry.
Under the MOU STX will assist ADSB in designing, constructing and operating a shipyard when it builds additional facility in the United Arab Emirates in the future.
Both companies will also co-operate to develop human resources for shipbuilding industry.
STX said it will grant full support for the development of the shipbuilding industry in the UAE on the basis of its rich experience of achieving high production efficiency at Jinhae shipyard in South Korea and establishing a ‘one-stop’ shipbuilding base in Dalian, China.
STX and ADSB will also join forces to exploit potential markets in the Middle East to build merchant ships, naval vessels and offshore supply vessels.
Both companies plan to discuss co-operation measures in detail, after setting up a joint committee and working groups for each section.
With the MOU with ADSB, STX is expecting to create new business opportunities in the UAE in a variety of sectors such as resources development, port construction and new ship orders.
An official from STX said, “The MOU with ADSB was signed less than a month from the landmark deal between South Korean-led consortium and the UAE to build four nuclear reactors worth $20.4bn in the UAE. As both countries also have promised to promote economic co-operation between them in various sectors, we hope many collaboration projects to follow further in plant and renewable energy businesses as well as shipbuilding.”
Source: Asiasis
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