Damen bids for Montenegro’s Bijela shipyard

22 Apr 2014
Bijela shipyard – could be yet another Damen acquisition

Bijela shipyard – could be yet another Damen acquisition

The Dutch Damen Shipyards group has submitted the sole bid in the tender to acquire a 61.57% stake in Montenegro’s Bijela shipyard, writes Jaroslaw Adamowski.

The country’s Tender Commission for Privatisation (TKZP) said it is currently evaluating whether the company fulfills the tender criteria to purchase Bijela from the Montenegrin Treasury.

The Montenegrin shipyard covers an area of more than 120,000m². It has two floating docks. The first is fitted with a lifting capacity of 33,000 tonnes and equipped with two cranes, while the second is fitted with a lifting capacity of 10,000 tonnes and also two cranes. Bijela’s installed capacity enables repair works performed on vessels of up to 120,000dwt, according to the Montenegrin company.

The estimated value of the deal has not been disclosed by the commission. However, the selected bidder will be required to implement an investment programme of at least €15 million (US$20.5 million) to develop the capacities of the shipyard over the next three years.

Set up in 1927, Bijela says it is the largest shiprepair yard in the Southern Adriatic. The remaining 38.42% of the company's shares are owned by a number of private shareholders, according to Bijela.

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