Defence engineering group Babcock International has finalised a multi-million pound joint venture with Oman Drydock Company that is expected to generate £200m in new business for the UK.
The FTSE 100-listed firm will provide local and international navies with engineering support services at Duqm Port in Oman, including the UK's new Elizabeth Class aircraft carriers.
Babcock and Oman Drydock signed a memorandum of understanding (MoU) earlier this year to bring together the engineering firm's maintenance and support experience with the Omani port operator's commercial shipyard capabilities.
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The venture will initially include work with the Royal Navy of Oman, the Royal Oman Police Guard, the Royal Navy and Royal Fleet Auxiliary.
Babcock divisional chief executive John Howie said: “Having worked closely with Oman Drydock Company through the planning stages, we are delighted to be moving towards the operational and growth phases of the joint venture and are fully committed to enhancing the marine engineering and port capabilities at Duqm with the support of the UK government and the Sultanate of Oman.
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"From these exceptional and well-positioned facilities we will deliver a world-class naval support capability to the Royal Navy, the Royal Navy of Oman and other navies from across the globe."
The announcement corresponded with a visit to Oman by UK secretary of state for international trade, Liam Fox.