UAE port operator the AD Ports Group, through its subsidiary Safeen Drydocks, has acquired 100 per cent ownership of Balenciaga Shipyard in Spain for a total consideration of €11.2 million (US$13.1 million).
The AD Ports Group said the transaction further consolidates its operations in Spain and in the Mediterranean region and complements its growing operations in the offshore wind sector.
Located in the Basque region, the shipyard features two drydocks, a 105-metre slipway, and a factory equipped with advanced automation and fabrication technologies spanning 22,385 square metres, complemented by a 3,530-square-metre cutting and manufacturing facility.
Balenciaga specialises in structural prefabrication of large modules for offshore projects, and in the construction of complex vessels.
The AD Ports Group said it is one of very few shipyards in Spain specialising in the construction of advanced service operation vessels (SOVs), which serve as floating bases for offshore wind farms, as well as research vessels, offshore support vessels, and specialised tugs.
The AD Ports Group said Balenciaga Shipyard’s proximity to the North Sea and wider European markets enable it to play an important role in meeting the growing global demand for SOVs.