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AGREEMENT SIGNED FOR REDEVELOPMENT OF MONTENEGRO SHIPYARD

Saturday, December 1, 2018 

Damen Shipyards Group has announced that it and Adriatic Marinas have signed an agreement with the Government of Montenegro to redevelop the former Bijela shipyard in Boka Bay, Montenegro.

Following technical surveys and the placing of a contract by the government and the World Bank for the remediation of the site, the Concession Agreement was signed on 30th November. Following completion of the remediation works in early 2020, it will be transformed by the consortium over the following 12 months into a superyacht repair and refit facility.

The planning of recruitment and training through the apprenticeship programme that Damen operates throughout its global network of shipyards is already underway, as are plans for the production of lifting and repair equipment for the facility. When complete, it is hoped the yard will provide around 300 jobs in the local area.

Rene Berkvens, Damen CEO, commented: “We are happy that today marks the beginning of a new lease of life for the shipyard in Bijela. Together with our partners we take a long-term view on making yacht maintenance and refit in Montenegro a success. A strong customer base at Porto Montenegro and yacht maintenance and refit skills within the Damen Group will contribute to the success of this venture. Considering the yard’s current condition, we face a challenging period. However, with the continuous full support of the Montenegrin Government, and in close cooperation with our strong partner and the local community, we aim to restore the yard’s health, increase employment, and pursue fitting commercial opportunities both locally and internationally that will contribute to rebuilding activity levels.”

Adriatic Marinas MD David Margason added: “The teams at Adriatic Marinas and Damen have been working for a very long time with the Government of Montenegro to realize this challenging and exciting project. We are delighted that this next major step has been achieved.”

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