GCC countries to spend $8bn on naval ships
The Gulf Coperation Council (GCC) countries are expected to spend some $8bn on naval ships in the next five years, according to an expert of Abu Dhabi Ship Building (ADSB).
As the only warship building company in the region, ADSB, along with its joint venture projects is here at the second Doha International Maritime Defence Exhibition and Conference (DIMDEX 2010), promoting its maritime defence services.
?The GCC region produces 40 percent of the world"s oil and with the security issues around us, the countries have been increasing their defence spending and will continue to do so,? said Homaid Abdulla Al Shemmari, Chairman, ADSB.
?Our analysis shows that in five years, GCC countries will spend $8bn on naval ships alone and hope to capture at least 30 to 40 percent of this market,? he told The Peninsula.
UAE, Oman and Bahrain navy have signed deals with ADSB to manufacture different kinds of naval ships.
?We are now competing to win a couple of Qatari naval deals and we are trying to convince them on the advantages of having a partnership with ADSB. The company has compatible technical competency, the proximity to Qatar can enable more control on the development of the projects and we can also be competitive from the pricing perspective. ADSB is optimistic that the deals will be signed.?