en.Wedoany.com Reported - Arab Shipbuilding and Repair Yard Company (ASRY) and Priya Blue Group, South Asia's largest green ship recycling company, have officially launched their joint venture project following the arrival of the first vessel for recycling in Bahrain, marking the transition from strategic cooperation to actual operations. The joint venture aims to establish a world-class, compliant, and environmentally friendly facility for ship and offshore asset recycling in the Middle East. Best Oasis, a leading global cash buyer of ships and energy asset recycling, provides tonnage procurement support for the joint venture and manages the commercial acquisition of vessels at the Bahrain yard.
The partnership combines ASRY's 49 years of experience in ship and heavy industry infrastructure with Priya Blue's three decades of ship recycling experience. The joint venture provides integrated recycling solutions covering vessel procurement, recycling operations, safety and environmental management, compliance documentation, hazardous waste management, dry dock and slipway access, heavy lift infrastructure, and regulatory support within Bahrain. Beyond conventional vessels, the joint venture is particularly well-suited for recycling complex offshore assets, including Floating Production Storage and Offloading units (FPSOs), Floating Storage and Offloading units (FSOs), rigs, and offshore structures.
The yard holds the necessary permits for recycling vessels containing hazardous materials from production fluids, including the handling, storage, treatment, export, and disposal of Naturally Occurring Radioactive Material (NORM) waste, a key challenge in recycling offshore assets and production facilities. Recycling operations can be conducted using dry dock, slipway, and quay methods, capable of recycling Ultra Large Crude Carrier (ULCC) class vessels and receiving rigs and offshore structures directly at the berth. The facility integrates ship recycling, environmental protection, and hazardous waste management systems. The joint venture operates in accordance with the principles of the Hong Kong Convention (HKC) and the EU Ship Recycling Regulation (EU SRR), supporting Bahrain's development as a regional hub for compliant ship and offshore recycling.
Dr. Ahmed Al Abri, CEO of ASRY, stated at the project launch: "For five decades, ASRY has been the region's most experienced maritime hub. We have successfully completed complex repair and maintenance operations for some of the world's most demanding vessels, serving operators from around the globe. Partnering with Priya Blue to bring best practices in ship recycling to the Kingdom of Bahrain is a strategic extension of ASRY's journey, and the first vessel marks the beginning of this new phase." Sanjay Mehta, Chairman of Priya Blue Group, commented: "We have recycled over a hundred complex vessels in Alang. We know what compliant, responsible ship recycling looks like and how to deliver it consistently. Bahrain is not a testing ground. This is a measured expansion of a proven business, and this ship is its opening statement."
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