Arab Shipbuilding and Repair Yard Company (ASRY) and India’s Priya Blue Group have established a joint venture, ASRY Green Ship Recycling, to expand ship and maritime asset recycling operations in the Arabian Gulf.
The launch marks a significant step in the strategic partnership between the two companies, which has now moved into active operations with the commencement of its first ship-recycling project in the Kingdom of Bahrain. Best Oasis will serve as the vessel acquisition and commercial partner for the joint venture.
The partnership combines ASRY’s extensive maritime infrastructure and industrial capabilities with Priya Blue Group’s decades of experience in ship recycling and the handling of complex marine assets. The venture aims to develop a competitive and sustainable recycling business while attracting larger and more diverse projects to the region.
“The joint venture reflects our shared vision with Priya Blue to establish a leading presence in the region’s ship and marine asset recycling sector, where we see significant opportunities for growth,” said Ahmed Al Abri, Chief Executive Officer of ASRY.
He added that ASRY Green Ship Recycling would strengthen Bahrain’s position as a regional hub for ship and marine asset recycling, with a focus on the highest standards of safety and sustainability.
ASRY operates a major maritime industrial hub in the Arabian Gulf, with facilities spanning more than 3 million square metres. Its infrastructure includes a large dry dock, floating docks, 15 repair berths, twin slipways and a fabrication area exceeding 250,000 square metres, supported by specialised workshops and service centres.
The company provides integrated services across ship, rig and naval repair and conversion, shipbuilding, fabrication, engineering, ship recycling and other marine services. Its facilities cater to a wide range of vessels and offshore assets, including jack-up rigs.
Gaurav Mehta, Director of Priya Blue Group, said the joint venture would leverage the company’s global expertise to promote environmentally responsible recycling practices, minimise environmental impact and support the maritime industry’s transition towards a circular and sustainable operating model.
Priya Blue Group is India’s largest green ship recycling yard. Its facility is Hong Kong Convention (HKC)-certified and EU-compliant, with advanced infrastructure and dedicated labour quarters established since its inception.
The joint venture is expected to combine the strengths of both partners to develop Bahrain’s ship recycling capabilities and expand sustainable maritime asset recycling opportunities across the Arabian Gulf.