QFZ, Milaha Sign New Qr80m Yachts And Ships Yard Agreement

(MENAFN- The Peninsula) The Peninsula

Doha: Qatar's Marsa free zones maritime development port will soon become home to the newly-developed Milaha Yachts and Ships Yard following a landmark agreement between Qatar Navigation Q.P.S.C. (“Milaha”) and Qatar Free Zones Authority (QFZ).

In attendance of Minister of transport H E Jassim Saif Ahmed Al Sulaiti and Chairman of Milaha's Board of Directors sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani, the strategic collaboration agreement between Milaha, the industry-leading provider of maritime and logistics solutions, and the QFZ was signed, on the sidelines of this year's Qatar Boat Show, by CEO of QFZ Sheikh Mohammed Bin Hamad Bin Faisal Al Thani, and Fahad Bin Saad Al Qahtani, Group CEO of Milaha.

Several high-profile government officials and top-management members from both parties were also in attendance.

The agreement and new facility will reaffirm Milaha and QFZ's commitment to support Qatar's growing position as a global maritime services hub, aiming to create new job opportunities, with a focus on prioritizing the attraction of Qatari talent.

The Milaha Yacht Yard will be located at the Marsa Port within Umm Alhoul Free Zone and span 22,000 square meters. It is set to include two covered sheds, three workshops, and an expansive open yard, making it an ideal environment for a wide range of services.

The major project seeks to meet the increasing demand for maintenance services for luxury yachts, naval ships, and wooden boats (traditional dhows), as well as refits, exterior upgrades, modifications, and necessary repairs.

CEO of QFZ Sheikh Mohammed Bin Hamad Bin Faisal Al Thani, said on the occasion:“This important agreement, signed today with Qatar Navigation Company (Milaha), underscores our efforts to contribute to the development of Qatar's maritime sector by fostering innovation and creating new investment opportunities in the region. We are working to develop Marsa Port at an accelerated pace and aim to achieve multiple milestones in the near future as part of our commitment to enhancing the infrastructure in our free zones. We are confident that these steps will create an attractive investment ecosystem that will not only boost opportunities in the maritime industry and yacht tourism but also promote sustainable economic growth, strengthening Qatar's unparalleled connectivity to the world will highlight Qatar's position as a preferred destination for international maritime companies and as a unique regional hub that supports growth and expansion throughout the Middle East”.

H E added:“We remain steadfast and committed to advancing economic diversification through establishing a robust, sustainable maritime industry and therefore, contributing to the objectives of the Qatar National Vision 2030.”

Group CEO of Milaha Fahad Bin Saad Al-Qahtani, said:“In line with the vision and direction of the Chairman and members of the Board of Directors to enhance the role of Milaha in raising the level of the national economy, continuing its future growth, and expanding the scope of its local and global services in the maritime field.

This agreement will enhance the efficiency of maritime industry operations at Marsa Port and elevate the level of services provided by Milaha, aligning with international best practices. It leverages the port's exceptional advantages, most notably its strategic location in the business-friendly Umm Alhoul Free Zone, positioning it as a premier hub for regional and international maritime operations.”

Marsa Port is strategically located in the Umm Alhoul free zone, adjacent to Hamad Port, the world's largest greenfield seaport, and only 20 minutes from central Doha city. Marsa has a 7.5 meter deep draught, which serves as a base for companies from around the world to conduct a variety of activities including ocean vessel building and repair, internal design and fit-out, ship provisions supply, safety training, boat brokerage as well as maritime research. Notably, the port's Synchro Lift is designed to accommodate vessels more than 70 meters in length and weighing more than 2,200 tonnes, it will also feature a travel lift designed to handle vessels up to 30 meters in length and weighing up to 300 tonnes.

Milaha has a legacy spanning more than 65 years and has established itself as a leading institution in providing maritime and logistics services, offering comprehensive solutions in shipping as well as both marine and land logistics. Since its inception, the company has played a key role in delivering maritime services across the region.

The construction of the Milaha Yacht Yard will mark a significant milestone for Milaha, ushering in a new era in the maritime services industry-not only in Qatar but across the Middle East-by diversifying maritime offerings and providing comprehensive logistical solutions.

Qatar Free Zones Authority is dedicated to enhancing its pivotal role in attracting foreign direct investment from around the globe, creating an environment conducive to continuous innovation and ever-evolving growth. Supported by Qatar's strategic location and a host of investment benefits and incentives, the Authority aims to attract leading global companies to Qatar's free zones, in turn directly supporting key sectors such as Emerging Technology, Logistics and Trading, Industrial and Consumer Goods, Maritime Development, Aerospace and Defense, Food and Agritech, and Biomedical Sciences.

In closing, we would like to extend our sincere gratitude to H.E Mr. Jassim bin Saif Al Sulaiti, Minister of Transport for his continuous support in driving progress within maritime transport and logistics sectors to enhance Qatar's position as a leading hub in various industries.

MENAFN08112024000063011010ID1108864992