Privinvest forms joint venture for shipbuilding in Angola

Privinvest forms joint venture for shipbuilding in Angola

Sept 03, 2016: Privinvest, the Middle East based shipbuilding group, announced the start of a major shipbuilding and maritime economy programme with the Republic of Angola.

The programme will initially see Privinvest provide a range of vessels for the Angolan Navy. In parallel, Privinvest together with Simportex, will develop and operate a shipyard in Angola. This shipyard will 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.

Boulos Hankach, president of Privinvest Shipbuilding Investments LLC, 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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