Jadaf Dubai, Goltens Co. sign long-term ground development agreement
Jadaf Dubai, one of the oldest ship repair yards in the Arabian Gulf and a part of Drydocks World Group, on 17th August 2010 signed the second long-term ground development lease agreement (Musataha). The agreement was entered into with Goltens, global ship repair and maintenance specialist, for a ship building and ship repair facility at the Industrial Precinct of Dubai Maritime City.
The agreement was signed by Mr. Hamad Al Maghrabi – Managing Director of Jadaf Dubai and Director - Shiplift, and Mr. Paul Friedberg - President of Goltens Co. Limited - Dubai Branch and Goltens Worldwide Services, at a private ceremony held at Intercontinental Hotel – Dubai Festival City.
Under the Musataha lease agreement, DMC – Industrial Precinct plots 6 and 7 measuring about 23,000 square metres will be leased to Golten Co- Dubai Branch for a period of 25 years. During the past five years, Goltens has established seven new global repair centres, lifting its annual ship repair revenue from USD 90 million in 2005 to approximately USD 200 million in 2010.
The new agreement will strengthen Jadaf Dubai's stronghold in the ship building and ship repair market. The Industrial Precinct is a part of Maritime City that is dedicated to ship repair facilities, yacht repair and manufacturing, as well as workshop units that service the needs of the maritime industry as a whole.
Mr. Hamad Al Maghrabi - Managing Managing Director of Jadaf and Shiplift, said: "Goltens has been one of our key partners for 22 years and they have proved to be outstanding service providers. Goltens have demonstrated strong capabilities in all-inclusive services in ship repair and maintenance and our partnership with the company confirms our commitment to excellence and is in line with our policy of facilitating businesses that enhance Dubai's standing as the premier maritime hub in the region."
Mr. Paul Friedberg - President of Goltens Worldwide Service – Dubai, said: "In all our operations globally, we are focused on providing optimum service solutions at excellent value to our clients. The new repair facility places us in a better position to offer a comprehensive range of ship repair and maintenance solutions to our growing customer base in the region. After a long standing relationship with Jadaf Dubai we are pleased to once again partner with Jadaf Dubai at the new state of the art facilities in the Industrial Precinct – Dubai Maritime City."
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