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Boat Building Facility in Abu Dhabi Planned
ABU DHABI - Emocean Marine, a boat-building company launched at the just-concluded Abu Dhabi Yacht Show 2009, has announced plans to set up a boat manufacturing facility at Musaffah.
At a capital investment of $10 million, the facility will be fully operational within three months. It will have a capacity to manufacture about 400 boats annually, but the number will depend on the size of the boat, the managing director of Emocean Marine, Hamad Kassab Bachi, told Khaleej Times on the sidelines of the Yacht Show.
Emocean Marine is a consortium formed by Phoenix Group and Senaat, and aviation businessman Ali Al Naqbi, who is also the chairman ofthe company.
Emocean has been running a temporary factory at Musaffah in the last couple of months, and 24 boats produced in that facility were sold in the first two days of the Abu Dhabi Yacht Show.
“This shows the vast demand for the boats in the region. The marine and yachting industry in the Middle East is one of the fastest growing in the world and it proving to be resilient in the face of the economic downturn,” Bachi said.
According to reports about 40,000 marine berths will be ready across the region in the next 10 years’ period.”
“We are trying to position us well to tap this growing potential by investing in this period of slow growth,” Bachi said.
“We want to bank on the sliding prices of the various commodities and services related to our industry. The prospects of the marine and yatching industry appear to be quite bright in the long and medium terms. ”
The company has also signed a partnership with the Italian marine company Gruppo InRizzardi during the Yacht Show. This positions Emocean as the exclusive distributor of InRizzardi boats and yachts throughout the MENA region. InRizzardi, in turn, will distribute Emocean vessels worldwide. It will also manufacture some boats on behalf of Emocean.
The alliance between Emocean and InRizzardi will enable the two companies to cover all aspects of the marine leisure and boating industry.
All vessels will come with the facilities and services provided by Emocean including unique boat care and preparation service that keeps the boats ready for use, besides an extensive after-sales support plan.
“We are very pleased to be involved in this alliance with Emocean, as the significant growth in the number and popularity of waterfront projects in the region is likely to result in an increase in interest in the boating and yachting industry,” said Corrado Rizzardi, CEO of Gruppo InRizzardi.
· ramavarman@khaleejtimes.ae
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