Manama, July 4, (Bahrain Now), written by Kashmeera Sambamurthy:
The Bahrain-based maritime repair and fabrication facility, Arab Ship Building and Repair yard, officially announced its commitment to a new industrial service sector along side the launch of a new Fabrication & Engineering division. The new arm – which includes the provision of modular fabrication, steel structures, piping solutions, offshore structures and vessel construction – is the fourth pillar in the company’s newly defined core services. The multi-service yard now includes four core services, defined as Ship Repair & Conversion, Rig Repair & Conversion, Naval Repair & Conversion, as well as Fabrication & Engineering.
Announcing the new division, ASRY CEO Andy Shaw said, “Fabrication and engineering are already part of ASRY’s DNA as they are key elements in our ship and rig repair business. Now we are deploying those years of expertise as their own independent revenue stream. Over the past 40 years, ASRY has established itself as the leader in maritime repair, and now there is an opportunity to establish ourselves as the leader in modular fabrication in the Arabian Gulf. There is significant growth potential in the regional fabrication sector, starting with Bahrain, where our new ownership structure as Bahrain government-owned entity will provide stability and longevity to meet fabrication clients long-term needs.”
In response to growing demand in the regional industrial landscape for high quality fabrication facilities, the new developments in the petrochemical, desalination, and energy sector in Bahrain and the GCC have indeed pushed demand beyond current supply, opening up a target space for ASRY. Experience spanning beyond 40 years in steel, piping and mechanical workmanship, the yard has over 5,000 average employees on site, and almost 1.5m square metres of work space that is waterside with instant access to water transport links. Combined, these features give ASRY the potential to quickly position itself as the region’s leading fabrication facility.
“There is currently approximately $490bn worth of projects in pre-execution phase across the GCC in our target sectors of power, gas, oil, chemical, water and industrial,” confirmed ASRY’s New Construction and Engineering Senior Manager Sauvir Sarkar, “and already there are insufficient fabrication facilities in the region, and even fewer in Bahrain. Due to this, much of the fabrication and engineering work is being contracted outside of the region, even from Bahrain. ASRY can now be considered now a preferred option for fabrication work in the region. We believe regional projects should be serviced by regional companies.”