Abu Dhabi Ship Building (ADSB), a leading shipbuilder and naval support services provider in the region, has signed a MoU with Egypt-based DeBirs Yachts to explore collaboration opportunities in high-growth luxury yachts and boats segment.

Manufacturers of timeless and innovative motor yachts, DeBirs Yachts is a Dutch yard that was re-established in 1998 in the Amria Free Zone, Alexandria, Egypt by a group of US, European and Egyptian investors.

As per the deal signed at the International Defence Exhibition and Conference (IDEX) in Abu Dhabi, both companies agreed to discuss and explore opportunities of collaboration in maintenance, repair and overhaul (MRO) services for super yachts, as well as commercial, naval and other vessels.

This will include for example, setting up new state of the art facilities in the region and/or developing ADSB’s existing facilities to establish a world class MRO facility for motor yachts, said a ADSB statement.

Furthermore, the duo will assess the feasibility and commercial viability of expanding the sales network of DeBirs Yachts in Abu Dhabi in order to increase DeBirs Yachts’ market penetration in the region. The MoU also covers opportunities of collaboration in research and development, it added.

Mohammed Al Junaibi, CEO, ADSB, said, 'The MoU may lead to exciting business opportunities for Abu Dhabi Ship Building and DeBirs Yachts as we may leverage our respective core expertise to develop value-added services and expand into the high-growth niche market for luxury yachts and boats.'

'ADSB already has a formidable portfolio in the commercial shipbuilding market and we believe that this MoU may enable us to provide an even wider range of choices and more value-added offerings to our clients,' he noted.

Rady W. Fahmy, senior director and board member, DeBirs Yachts, said, 'With ADSB's world-class facilities and expertise and wide-reaching presence in the regional market, we are confident that we ultimately will be able to build a strong and lasting brand image in the luxury yacht and boat segment.'

DeBirs Yachts specializes in the construction and repair of 26-34 meters (85-112 feet) semi-custom luxury fibreglass motor yachts, he added.-TradeArabia News Service