Al Seer Marine makes Dhs257m cornerstone investment into ADNOC L&S

Al Seer Marine makes Dhs257m cornerstone investment into ADNOC L&S

, an International Holding Company (IHC) subsidiary, has secured a major cornerstone investment in ADNOC Logistics & Services, with a share value of Dhs257m ($70m). According to a report published by the state news agency , the move comes “as part of the company’s strategy to diversify its investment portfolio, as the company continues to be a key and strategic contributor to the UAE’s economy and diversification efforts”. “Al Seer Marine is building on its highly diversified investment portfolio, and with ADNOC has an excellent and longstanding track record and network within the global energy maritime logistics sector, we are confident this cornerstone investment in ADNOC Logistics & Services will reflect positively on our growth strategy,” said Guy Neivens, CEO of Al Seer Marine. The company was the sixth IHC group company to list on the ADX in 2021. The Abu Dhabi-based company offers services such as management and training, construction of vessels, , high-tech boatbuilding, unmanned systems development, and manufacturing. Earlier this year, Al Seer Marine unveiled ‘MEGA II’, a 36-metre-long 3D printer, in Abu Dhabi.