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FINANCIAL NEWS
Oman’s Sapphire Marine to sign JV deal with USMI
06 Dec 2010
(MENAFN) Chairman of Oman’s Sapphire Marine, Haythem M. Macki, has unveiled the sultanate’s plans to create a joint venture with United States Marine Inc. (USMI), to manufacture high-speed patrol boats for security agencies in Oman, Times of Oman reported.
Under the agreement, USMI is tasked with the provision of the project’s technical know-how including the design of the boats which will be manufactured at Sapphire Marine’s factory in Salalah, said Macki.
Chairman of Sapphire Marine, which was established in 2008, and Barry T. Dreyfus Jr, the Chief Executive Officer of USMI have already signed the memorandum of understanding (MoU).
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