New joint venture 'Clement Systems Gulf' to bring innovation in marine floatation to Gulf

Clement Systems Gulf shall be engaged in design, manufacture, distribution and installation of all kinds of floating concrete pontoons which are used for building marinas, floating houses, islands, restaurants, streets, and bridges .

Announcing this venture, Mr. Ahmed Butti Ahmed, Chief Executive Officer of Istithmar and Managing Director of Jebel Ali Free Zone Authority said, 'We believe that the coming years will witness a huge demand for floating pontoons in the GCC market, particularly with the development of marine tourism projects such as islands, hotels and marinas. The new venture already has significant business in hand and is expected to introduce innovative floating structures to the region.'

Istithmar holds a majority shareholding in Clement Systems Gulf. The company's manufacturing facility is being set up on a 30,000 sq.m. area in Jebel Ali Free Zone Authority and it is expected to be operational within three months time. According to Mr. Butti "Establishment of a production base in the region will result in lower costs and quicker delivery schedules compared to imports, and will benefit the customers in the region."

Mr. Jurgen Clement, General Manager and Promoter of Clement Yacht Harbour Systems, Germany said, 'The new venture will have a state-of-art technology along with a highly experienced team of engineers, thus having the ability to design and manufacture pontoons for various applications. Our floating concrete pontoons and breakwaters remain highly stable in tidal ports and at changing water levels, and are approved by the Lloyd's Register. "

Clement Yacht Harbour System is a leading player in Germany and operates worldwide through representative offices in Europe and Asia. Reputed for its high quality standards, it was able to procure high-profile projects such as the floating gardens with an area of about 4,200 sq.m. for the 2003 world exhibitions in Rostock, Germany, amongst many other projects. The company has built floating houses, restaurants, fuel stations, footbridges, marinas and breakwater pontoons with 20-meter length and 4-meter width.

Mr. Jurgen added, 'We aim to be the market leader for floating equipments in the Gulf region and see significant growth opportunities for these products from maritime tourism and other offshore projects due to our unique technology to build fix platforms in all dimensions. The production facility at the existing location can be expanded to meet the future increase in demand.'

The company is participating in the Dubai International Boat Show, which is being held from 17th March to 20th March at the Dubai International Marine Club, Mina Seyahi and will be attended by entities interested in the business.