The Arab Shipbuilding and Repair Yard Company (Asry) is to undergo a $188 million expansion over the next 30 months, it was revealed on Wednesday.

Asry chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa said the expansion would consist of a basic quay wall and an offshore launching pier.

'It would also mean an additional 1,200 metres of berthing space to repair medium and large vessels.'

Shaikh Daij, who was speaking during a ceremony to formally inaugurate two slipways and an additional berth at the yard in Hidd, said the expansion project is expected to receive the Asry general assembly approval on Thursday (October 16, 2008).

The new facilities, set up at a cost of $20 million, were completed in 10 months, he said.

'The facilities at Asry have received a major fillip after this extremely important development,' he said.

'In the very near future, we shall see several more initiatives in keeping with the new look at Asry.'

The chairman attributed the success of Asry to its 'hardworking and dedicated' workforce and said every single individual had contributed to its 'phenomenal growth.'

He said the launching of the two slipways is a major development for the company in its continuous commitment to provide its customers with services and facilities that match high international standards.

'Asry has been greatly encouraged by the enormous interest shown by the ship owners about this project, which has so far handled 11 ships.'

Chief executive Chris Potter said the ship repair industry is not high tech but extremely complex.

'We are proud of our achievements and soon we shall see the addition of an offshore and related works facility taking shape. We have to expand to take care of the 'congestion' in the industry where a lot more facilities need to take shape all over the world.'

He said keeping this in mind, Asry is looking at and attempting to break into new markets. 'This is a very competitive industry and we are doing very well. We wish to keep that going.'

Potter thanked the companies and the organisations which contributed to the construction of the slipways and berth and all who participated in the execution of the project.

The two slipways, each with a total length of 510 metres and a dry berth length of 255 metres, are the largest in the Middle East and among the largest ship recovery slipways in the world.

Asry board members, ambassadors, government officials and a large number of VIP guests were present at the ceremony. - TradeArabia News Service