Grandweld and Drydocks sign agreement
UAE-based shipbuilding, ship repair and conversion specialist, Grandweld, and Drydocks World Dubai have signed a long-term ground development lease agreement (Musataha) for a shipbuilding and ship repair facility at the Industrial Precinct of Dubai Maritime City (DMC).
Under the Musataha lease agreement, Drydocks World Dubai leases two DMC industrial precinct plots measuring in total 27,055m2 to Grandweld for a period of 25 years. The new facility in DMC is an additional milestone for Grandweld and will allow the company to double its shipbuilding capacity. Moreover, it offers extra capacity for docking larger vessels at the ship repair facility that has full and free access to the Arabian Gulf.
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