The Arab Shipbuilding & Repair Yard Company (ASRY) and AD Ports Group have signed three Heads of Terms (HoTs) to enhance maritime services in Bahrain and develop joint ventures for significant port and maritime projects. This collaboration follows the establishment of ASRY Marine, a joint venture with Noatum Maritime, aimed at providing comprehensive marine services in the region.
The first HoT focuses on a joint venture for managing shipyards and drydock facilities, leveraging the strengths and resources of both organizations in the maritime industry.
The second agreement involves a partnership with JM Baxi, a prominent Indian firm specializing in marine services, logistics, and port operations. This partnership aims to create green ship recycling facilities that reduce carbon emissions and promote a circular economy by reusing components and minimizing waste.
Lastly, the final HoT will explore cooperative investment opportunities in ports and terminals. These agreements collectively reflect a commitment to fostering sustainable maritime operations in Bahrain while enhancing regional maritime capabilities.
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