Saturday, October 8, 2016

Privinvest forms joint venture for shipbuilding, maritime investment in Angola


September 5, 2016 - Middle East’s major shipbuilding group, Privinvest, has announced a major shipbuilding and maritime economy investment program with the Republic of Angola.
The company said in a statement on Friday that the program will initially see Privinvest provide a range of vessels for the Angolan Navy.
In parallel, Privinvest together with Simportex, will also develop and operate a shipyard in Angola.
The shipyard is planned to have modern facilities and state of the art technology and will be able to build new ships, to service ships and to provide a wide range of servicing facilities for the existing fleet.
In addition to supplying a number of ships Privinvest will be providing a Transfer of Technology to enable the construction of naval vessels in Angola.
“This initiative is a yet another component of Privinvest’s investment strategy in Angola and the strengthening of business relations between Privinvest and the Republic of Angola, as part of the commitment to the development of the country’s maritime economy,” the company said.

President of Privinvest Shipbuilding Investments LLC, Boulos Hankach, said, “This marks another step in our cooperation with one of the most dynamic economies in Africa. It shows that we have the skills and capabilities that generate appetite to promote high-level programs in countries around the world.”

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