Thyssenkrupp Gets Nod For Naval Spinoff To Tap Defense Boom
By William Wilkes (Bloomberg) –Thyssenkrupp AG is moving to cut loose its warship unit, hoping to ride a surge in European defense spending while stepping back from a business that has...
The vessels will be delivered by Q3 2014 and early 2015 and operated on a 14-year contract by Nakilat SvitzerWijsmuller (NSW), a joint venture 70 percent owned by Nakilat and 30 percent by Svitzer Middle East Ltd. for Qatar Petroleum.
NSW already operates a fleet of 25 vessels at Ras Laffan and a further five vessels at Halul Island, performing about 12,500 tug jobs per year in the Port of Ras Laffan.
In addition to the new order for the Port of Ras Laffan, NDSQ is constructing 19 workboats for use at the Port of Mesaieed.
Commenting on the signing of the vessel construction and operation contracts, Managing Director of Nakilat and Chairman of NDSQ and NSW, Muhammad Ghannam said:
“We are delighted with the continued confidence in the services that our joint ventures are providing in Qatar. NSW will ensure that the Port of Ras Laffan will continue to receive first class harbor services at increased capacity using vessels built in Qatar by NDSQ. We’re thankful to HE Dr. Mohammed Bin Saleh Al Sada for His Excellency’s continued support of the operations of Nakilat and its joint ventures at the Port of Ras Laffan and at Erhama Bin Jaber Al Jalahma Shipyard.”
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