Al Seer Marine, a global player across multiple marine sectors and a subsidiary of the International Holding Company (IHC), has secured a major cornerstone investment in Adnoc Logistics & Services, a global energy maritime logistics leader, with share value of AED257 million ($70 million).

 

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, said a Wam news agency report.

 

Al Seer Marine is committed to driving continuous growth for its stakeholders through investments in market leaders that enable the company to deliver superior value to its shareholders, the company said.

 

“Al Seer Marine is building on its highly diversified investment portfolio, and with Adnoc has 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.

 

Al Seer Marine was the sixth IHC Group company to list on the ADX in 2021. The company has a portfolio of services including management and training, construction of vessels, tankers, high-tech boatbuilding, unmanned systems development, and manufacturing. Early this year, Al Seer Marine unveiled “MEGA II”, a 36-m-long and the world largest 3D printer.