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FINANCIAL NEWS
Dubai- Drydocks to focus on energy projects
04 Jun 2012
(MENAFN) Drydocks World’s chairman, Khamis Juma Buamim, stated that the company plans to widen its presence in the energy industry, as soon as it finishes its debt restructuring deal, reported The National.
Buamim said that the firm began the establishment of a 90 meters high turret for a floating liquefied natural gas (LNG) Prelude project developed by Shell, adding that the 11,500 tons turret will be installed on a ship and moored 200km off the coast of Australia’s Kimberley.
He added that as Drydocks plans to become a multifunctional yard, not only a repair shipyard, the Dubai World subsidiary will convert 2 ships to clean up oil spills, mainly in the Gulf of Mexico.
It is worth noting that the company also inked a deal to set up an offshore wind farm, which will transfer electricity generated by wind turbines off the shores of Germany.
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