by IBI magazine
Signed by HE Rashid Ahmed bin Fahad from the Ministry of Environment and Water and chairman of the Al Masaood Group Abdullah Al Masaood, the deal concerns service of the UAE's registered fishing fleet, comprising 7000 vessels, but the ten boatyards will also open to owners of pleasure boats.
Al Masaood Marine will oversee the running of yards located in Delma, Khorfaccan, Dubai, Dibba, Kalba, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. The firm is also opening a new flagship workshop in Abu Dhabi in early 2009.
'The number of berths available in the UAE is set to rise almost 1000% in the next ten years. This will translate into a ten-fold demand for the servicing of boats used for leisure,' says Andrew Wagner, general manager of Al Masaood Marine and Engineering.