UK engineering services provider Babcock International Group has finalised a Joint Venture (JV) with Oman Drydock Company (ODC) to enhance the naval capabilities at Duqm Port in Oman, providing local and international navies with world-class engineering services.
The completion of the joint venture involving the FTSE 100 company coincide with the UK Secretary of State for International Trade, Liam Fox MP, visiting Oman and underpin the UK’s commitment to support the development of Duqm as a strategic location to create valuable employment in the area and secure future opportunities.
After signing a Memorandum of Understanding (MoU) earlier this year, both companies have worked to combine ODC’s well-established commercial shipyard capabilities and Babcock’s international naval and engineering expertise. This overarching aim is to provide maintenance and support to warships and support vessels from across the globe.
Initially this will include the Royal Navy of Oman, the Royal Oman Police Guard, the UK Royal Navy and Royal Fleet Auxiliary.
International Trade Secretary Dr Liam Fox said: “The trade routes across the gulf are some of the oldest in the world. We share Oman’s commitment to open and free trade, and this joint venture with a leading British company will help both our countries increase our naval and trading capabilities in the region. Babcock is leading the way for other UK companies to follow in a country with huge opportunities.”
Oman Drydock Company Chairman, H.E. Dr. Abdulmalik bin Abdullah Al Hinai, said: “We are proud to see the hard working outcome of the joint venture and we are committed to this partnership with Babcock International Group. Delivering superior service is our top priority and we believe that the combination of Oman Drydock Company and Babcock International Group allows our clients to benefit from the complementary strengths of both companies within the maritime industry.”
Babcock Divisional Chief Executive, John Howie, said: “Having worked closely with Oman Drydock Company through the planning stages, we are delighted to be moving towards the operational and growth phases of the JV and are fully committed to enhancing the marine engineering and port capabilities at Duqm with the support of the UK Government and the Sultanate of Oman. From these exceptional and well-positioned facilities we will deliver a world-class naval support capability to the Royal Navy, The Royal Navy of Oman and other navies from across the globe”.