FINANCIAL NEWS

Abu Dhabi Ship Building to deliver 10 ships this year

12 May 2010

(MENAFN) The Chairman of Abu Dhabi Ship Building (ADSB) said that the company is planning to hand over this year eight 16-metre vessels to the Critical National Infrastructure Authority (CNIA) and two 42-metre landing craft to the Bahrain Navy, Khaleej Times reported.

He said ADSB had received an order for six Corvette-type ships from the UAE Navy in 2005-06, the size of the order being $1.02 billion.

Two of these ships, of which one is made in France, will be delivered to the UAE Navy by the third quarter of 2012, said the chairman, adding the other four deliveries to the UAE Navy have a 2014 timeframe.

He also said ADSB currently has several new ship contracts under negotiation. The company is eyeing orders from Oman, Bahrain, Qatar, Kuwait, Libya and Algeria.

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