CONSORTIUM RECEIVES LONG-TERM CONCESSION FROM THE GOVERNMENT OF MONTENEGRO
November 1, 2020 - Porto Montenegro is introducing a new partner to develop yacht services in Bijela. Drydocks World, part of the DP World Group from the United Arab Emirates, is the new member of the Montenegro Yacht Services consortium together with Adriatic Marinas from Tivat. Drydocks World takes the place of Dutch shipbuilding corporation Damen.
The consortium received a long-term concession from the Government of Montenegro for the shipyard port of Bijela, which includes the regeneration of the former overhaul shipyard for large merchant ships into a first-class company for servicing, maintenance, repair and refit of superyachts.
Porto Montenegro stated that a consortium consisting of the superyacht development and marina management company Adriatic Marinas (ADM - owned by the Dubai Investment Corporation) and Damen - a Dutch shipbuilding group, had agreed that Damen’s role in developing the former Bijela Shipyard would be taken over by the new member of the consortium Drydocks World - Dubai.
They add that the latter is a leading company for the provision of services for servicing, maintenance, repair and refit of yachts, as well as for maritime services and services for maritime platforms in the transport, oil, gas and energy sectors.
"Together we will position the shipyard in Bijela as a leader in the area of repairs and refit of superyachts in the Mediterranean," stated the signatory for the consortium, Chairman of the Board of Directors of Adriatic Marinas, Mohammed I. Al Shaibani.
In addition to opening a yacht servicing company, the consortium plans to establish a training academy in Bijela to train future generations of marine engineers from Montenegro.