McDermott Renews Lease with Jafza Until 2030
A subsidiary of McDermott International, Inc. announced today that it has renewed until 2030 the lease for its Middle East fabrication facility, marine base and regional headquarters located in the Jebel Ali Free Zone (Jafza) in Dubai, United Arab Emirates.
McDermott originally started operating in the region from a fabrication facility located on the shores of the Dubai Creek in 1971 before moving to Jafza in 1986. The facility was officially inaugurated by His Highness Shaikh Mohammad Bin Rashid Al Maktoum on January 18, 1987.
Stewart Mitchell, McDermott's Vice President and General Manager, Middle East and India: said "It is a great pleasure for us to continue our relationship with Jafza. As one of the first companies to set up in the Free Zone, we have watched the free zone grow, and the infrastructure that Jafza has developed has helped our business to become one of the leading engineering, procurement, construction and installation providers of offshore oil and gas facilities in the world."
Ibrahim Mohamed Aljanahi, Deputy CEO and Chief Commercial Officer- Jafza, said: "McDermott's continued use of Jafza as their regional headquarters and Middle East fabrication facility till 2030, reflects a committed partnership. This is an important relationship to us at Jafza and one that I am sure will grow in the coming years. As dedicated facilitators, we are happy to have contributed to their remarkable achievements in their last two decades at Jafza. We extend our wishes and support towards making the next 20 years together equally significant."
Today, McDermott is one of the largest companies operating in Jafza, employing more than 6,000 people. Since relocating to the Free Zone, McDermott has completed in excess of 78 million man-hours of fabrication work, delivering 391 structures weighing more than 573,000 tonnes to 30 customers in 18 countries, including the Middle East, Gulf of Mexico, Europe, India, Caspian and West Africa.
The yard covers approximately 58 hectares and has the capability to perform in excess of eight million manhours of work, delivering more than 50,000 tonnes of facilities annually while serving as the marine base to four major work barges and a fleet of support vessels.
- The top five mistakes committed by real estate agents
- After bringing down Dubai's Finanicial Market by $30 billion, what does Arabtec's downfall really tell us?
- Gaza's desperate need for a 'Marshall Plan'
- 'Operation Constructive Edge': Gaza looks to post-war aid to rebuild
- Is purchasing property a successful 'fail-safe' strategy?