Bilbao: AD Ports Group today announced that its subsidiary SAFEEN Drydocks, part of Noatum Maritime, has acquired full ownership of Balenciaga Astilleros Shipyard. The acquisition, valued at EUR 11.2 million, marks a significant expansion of AD Ports Group’s presence in Spain and the Mediterranean region, enhancing its capabilities in the offshore wind sector.
According to Emirates News Agency, the shipyard, located in the Basque region, will now be known as Balenciaga Shipyard. It boasts nearly a century of shipbuilding expertise and cutting-edge infrastructure, including two drydocks, a 105-metre slipway, advanced automation technologies, and a sizeable fabrication facility. The shipyard is recognized for its proficiency in structural prefabrication of large modules for offshore projects and the construction of complex vessels, such as Service Operation Vessels (SOVs) used in offshore wind farms.
Captain Ammar Al Shaiba, CEO of the Maritime and Shipping Cluster at AD Ports Group, stated, “This acquisition is a testament to our strategy of targeted international expansion and portfolio diversification. Balenciaga Shipyard’s expertise in advanced vessel construction, particularly for the offshore wind sector, will enable us to further our ambitions while facilitating knowledge transfer and best practice adoption across SAFEEN Drydocks.”
The acquisition is aligned with AD Ports Group’s strategic focus on expanding its contribution to the global offshore wind market. This move complements the Group’s recent partnership with Masdar, aimed at developing offshore wind projects. The shipyard’s strategic location offers proximity to the North Sea and European markets, positioning it to meet the growing demand for specialized SOVs.
In addition to bolstering its offshore wind capabilities, the acquisition is expected to generate economic benefits for the region, creating over 50 skilled roles to support a robust pipeline of specialized vessel projects. This initiative is anticipated to contribute to AD Ports Group’s fleet requirements and foster economic opportunity in key markets.
Source: Emirates News Agency
