DryDocks World looks to joint ventures
The head of Dubai's state-run shipbuilding company says the firm is in talks with possible partners to set up joint venture operations at its Asian shipyards, Bloomberg reports. DryDocks World Chairman Khamis Juma Buamim told reporters on Tuesday the company doesn't want to sell a majority stake in the Asian yards but would be open to bringing in partners to split operations. He didn't identify potential partners.
A joint venture deal could be a way for the company to generate extra cash as it looks to close a $2.2 billion debt restructuring deal.
DryDocks World is a division of troubled state conglomerate Dubai World. It runs shipyards in Dubai, Singapore and Indonesia.
Buamim says there have been no talks to set up a joint venture in Dubai.
A joint venture deal could be a way for the company to generate extra cash as it looks to close a $2.2 billion debt restructuring deal.
DryDocks World is a division of troubled state conglomerate Dubai World. It runs shipyards in Dubai, Singapore and Indonesia.
Buamim says there have been no talks to set up a joint venture in Dubai.
