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Dubai Maritime City launches $3bn first phase

Dubai Maritime City on track for 2013 completion

Dubai Maritime City has launched its $3bn first phase.
Dubai Maritime City has launched its $3bn first phase.

The Dubai Maritime City (DMC), the ship-repair unit of Dubai World, has launched its $3billion first phase, and is on track for total completion by 2013, said Khamis Juma Bu Amim, chairman of Drydocks World and Maritime World at the launch.

Bu Amim said phase one comprises the marina operation, phase two involves building additional infrastructure and increasing capacity, while phase three will see the finalisation of all the commercial aspects. “We have a number of milestones to achieve,” noted Bu Amim.

In the first phase, 50 companies will move their main operations to the site, along with six companies that will build headquarters, workshops, manufacturing areas and warehouses.

The ship-lift facility located within phase one in the maritime industrial precinct will lift ships with capacities of 6,000t and 3,000t, meeting the needs of the mid-level segment of ship owners. Larger vessels will be accommodated in the adjacent Drydocks World facility.

Bu Amim said the current restructuring of the company’s debt had not affected its construction targets, and neither did it have to raise additional funds.

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