A Memorandum of Understanding (MoU) has been signed among key stakeholders to establish a ship recycling initiative in Bahrain.
The parties involved include the Ministry of Transportation and Telecommunications, the Ministry of Industry and Commerce, and A.P. Moller – Maersk. This initiative aims to create a sustainable ship recycling ecosystem within Bahrain, leveraging partnerships between government entities and industry leaders like ASRY, SULB Company, and APM Terminals Bahrain.
Under the MoU, ASRY will receive regulatory support from the ministries to equip its facilities for ship recycling, while A.P. Moller – Maersk will provide technical expertise to ensure the adoption of sustainable practices and standards. SULB Company will play a crucial role in recycling and processing steel from these ships for both local and international markets, thus promoting circular economy principles.
Officials emphasized the initiative’s potential to boost economic growth by enhancing commercial activities related to recycled materials, while also advancing environmental goals such as carbon neutrality and sustainable manufacturing practices within the industrial sector.
We are hopeful that this MoU will provide the right platform to accelerate responsible ship recycling in the Kingdom, create a positive impact on the country’s economy and create jobs.
…said Ahmed Hassan, Senior Vice President Head of Asset Strategy, A.P. Moller – Maersk
