Dubai - Mubasher: Gulf Navigation Holding has signed a partnership agreement with Turkey’s Polimar in the field of maritime agencies, ships services, and marine products, according to the company’s press release.
As per the statement, the contract involves establishing a new company affiliated to Gulf Navigation, with expected annual revenue of $27 million (AED 99.2 million).
This will raise Gulf Navigation’s fleet from 4 to 10 ships, with a value of $3 million per ship, the statement indicated.
The partnership includes cooperation in ship building, owning, management and repair, in addition to investment in marine tourism, yacht marina and marine hotels.
