Nakilat Damen JV

Nakilat and Netherlands-based Damen Group have signed a memorandum of understanding for establishing a Qatari majority joint venture, which will build a shipyard for construction of luxury yachts and ships for commercial and military use up to 100m in length.

The Ras Laffan shipyard is expected to begin operation in 2010 and will have the capacity to produce 15 ships a year. The new shipyard would be designed to build commercial vessels such as tugs, offshore supply vessels, coastal tankers and ferries, naval and coastguard vessels including corvettes, patrol boats and fast attack craft and luxury yachts (custom and semi-custom steel / aluminium vessels).

The Damen Group currently operates 35 shipyards in some 13 countries including China, Vietnam, Netherlands, Poland and Rumania. Besides ship construction the company also undertakes maintenance and repair of vessels. The joint venture would be majority owned by Nakilat which is also involved in a number of other marine related ventures in the State of Qatar. These include the design, building and operation of a state of the art ship repair yard in Ras Laffan which is expected to be operational by end 2009.