Dubai's ship building unit Drydocks World and Maritime World, a renowned provider of maritime and offshore services to the shipping, oil, gas and energy sectors, has signed a deal with Poland-based MARS Closed-End Investment Fund.

MARS manages multiple companies engaged in marine and maritime sectors including shipyards, ship repair services and constructing offshore structures for the oil and energy sectors.   

The MoU was signed by Khamis Juma Buamim, the chairman of Drydocks World and Maritime World and Piotr Slupski, the president of the Management Board, MARS on the sidelines of the UAE – Poland Business Forum.

Sultan Al Mansoori, UAE Minister of Economy and Mohammed Abdulaziz Al Shehhi, the undersecretary of the UAE Ministry of Economy attended the event.

It was organized by Dubai Chamber of Commerce and industry in collaboration with the Embassy of the Republic of Poland in conjunction with the official visit to the UAE of Bronislaw Komorowski, President of the Republic of Poland.

The mutual areas of cooperation under the MoU will be based on identification of projects suitable for common execution or close partnership as contractors or subcontractors in the offshore services and maritime sectors including the repair, refurbishment, conversion and new building of oil rigs, process modules and semi-submersible platforms, fabrication of steel structures for oil & gas subsea applications and offshore wind power farms, conversion of Floating Storage and Offloading (FSO) and Floating Production Storage and Offloading (FPSO) units,. said a statement from Drydocks World.

This will result in the development of investment opportunities and exchange of knowledge in all aspects of business and industry, including workforce development, education and training, research, and jobs opportunities and facilitate the exchange of investments in the maritime and marine sectors, it stated.

Speaking on the deal, Khamis Juma Buamim, said, "Our businesses can complement each other especially in areas of mutual interest such as services related to oil & gas and renewable energy. We are always looking at forming meaningful partnerships with global institutions working in the same field and to support the growth of marine and maritime sectors."

"There is considerable synergy in what we do and this can provide substantial leverage for the alliance especially in the European market," he added.-TradeArabia News Service