GulfNav is planning a large scale expansion of its operations in northern UAE – the GNH Northern Project - including ship building, ship repair and offshore platforms, equipment and services, logistics, marine specialized operations and global mobile ship repair.
The project will be under by a consortium comprising GulfNav and Wuchang Shipbuilding Industry Group and Qingdao Beihai Shipbuilding Heavy Industry from China’s CSIC group. The consortium is currently reviewing and finalising plans to start the project.
The project will be developed in three phases with the first phase including the upgrading of existing facilities and a floating dock, and development of specialised floating cranes for working remotely.
"We are working on creating partnerships as part of GNH’s global expansion and development strategy and to establish ourselves are market leaders in all areas of the maritime sector and to diversify sources of our income and create value for our shareholders,” Khamis Juma Buamim md and group ceo of GulfNav.
“We have ambitious and approved plans under this concept and strategy of expansion termed ‘broad vision for new horizons’. They rely on innovation, change and transformation of the group into multi-national and multi-business, which consequently will create job opportunities and strengthen the economy of the region and UAE which is in the best interests of our country,” he added.
Just last week GulfNav revealed it was in the process of acquiring a “large shipping fleet”.
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