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New body Dubai Drydocks World formed

New body Dubai Drydocks World formed

Dubai: Holding company Dubai World is to consolidate all its ship repair, conversion and ship building activities into a single body - Dubai Drydocks World (DD World). The move unites Dubai Drydocks, Al Jadaf Shipyard (aka Jadaf Dubai), Platinum Yachts FZ and Platinum Yacht Management.

A statement from Dubai World said that the move was "aimed at facilitating group strategy, policy and financial and operational control of business units that have aligned activities. It is a response to the increasing worldwide demand for high quality shipping and maritime services."

"We are confident DD World will be a dominant player in the international market in the near future," said Dubai World chairman Sultan Ahmad Bin Sulayem in a statement. "The decision to establish Dubai Drydocks World is a reflection of the ambitions to expand the group both regionally and internationally with partnerships, acquisitions and management contracts."  [12/04/07]