Nico to develop new ship repair yard in Kazakhstan

Dubai: Ship-repair company Nico International (Dubai) has signed a memorandum of understanding with Caspian Services (Almaty) and Kazmortransflot JSC (Kazakhstan's national marine company) for the joint construction of a new vessel maintenance and repair facility at the port of Bautino in Kazakhstan. The agreement, signed on Monday at the Seatrade Middle East Maritime exhibition in Dubai, enables Nico to develop and operate the multimillion dollar facility, which is capable of dry docking up to eight vessels at one time as well as providing floating repair services

The company also announced its acquisition of the industrial and marine engineering division of Fujairah Marine Services & Trading (FMS) at SMEM. Nico will take charge of ownership and management of the division, while FMS will self-regulate its other activities and divisions [07/12/06]