UAE’s DP World-owned Drydocks World, a leading provider of yacht service, maintenance, repair and refit as well as marine and offshore services to the shipping, oil, gas and energy sectors has joined the Group Adriatic Marinas-led consortium.
The move comes after the consortium members Group Adriatic Marinas, jointly owned by Investment Corporation of Dubai (ICD) and the Dutch shipbuilding group Damen decided to add Drydocks World into the consortium to take over the redevelopment of the former Bijela Shipyard, Boka Bay, Montenegro from Damen.
Drydocks World’s involvement in the Bijela Shipyard project brings considerable experience, capabilities and resources to the consortium and is considered as a key addition for creating a world-class super yachting hub in Boka Bay, driving major development for Montenegro.
Bijela, Herceg Novi, which is considered as the historic homeland of marine engineering in Montenegro the region will once again bring the country’s renowned sector skills to the Mediterranean marine market post the development of the Yard.
“This exciting project will not only regenerate the shipyard at Bijela but the whole marine engineering industry, and bring back to life the long and proud maritime history of Montenegro. 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 added, “Importantly, I would like to thank our colleagues at Damen for their substantial efforts in helping bring the project to this point of acceleration”
The consortium is expected to complete the transformation of the yard over a 36-month period once the government performs remediation works. Once developed, the yard will evolve into a superyacht repair and refit facility with plans to start some service work during this re-development period.
The group will also engage in setting up a skills academy at Bijela to develop future generations of Montenegrin marine engineers.