Newly formed SembMarine to invest $40m

DUBAI — Al Mukairish has entered into a joint venture agreement with SembCorp Marine Ltd to form SembMarine (Middle East) Pte. Ltd. SembMarine (Middle East) Pte Ltd will invest up to $40 million, as well as provide technical services to Floating Dock Company for Shipbuilding and Ship repair (FDSCO) that will develop, own, operate and lease the ship building and ship repair yard.

By A Staff Reporter

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Published: Sat 15 Dec 2007, 9:10 AM

Last updated: Sat 4 Apr 2015, 9:40 PM

The 21 hectares FDSCO Yard will be constructed on the Al Jazeera Island which is a part of the Yanbu Commercial Port. The FDSCO Yard will offer a range of shipbuilding, ship repairing, marine engineering facilities and services to the region's heavy industries.

Fully operational by 2009, the FDSCO Yard will have a shiplift system for new building and repair of vessels up to Handymax size and a floating dock for repair of vessels up to Suezmax size. The other associated facilities will include ship construction halls, wet and dry berths, final outfitting and commissioning quay, supporting infrastructures and services as well as training facilities.

On the rationale underlying the joint venture, Mr Ng Thiam Poh, Senior Vice-President of Corporate Development at SembCorp Marine said, " Through SMME, SCM will invest in and provide technical and management services to FDSCO. SMME will also provide opportunities for SCM to grow its marine, oil and gas business in the Middle East."

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