Grandweld Wins Contract for Salvage Tugs

Grandweld, a United Arab Emirates-based shipbuilding, ship repair and conversion specialist, has secured a major contract worth $128m for the construction of three new Salvage Tugs for Sogeport-GICEP of Algeria. Grandweld is a division of GMMOS Group, a provider of marine services to the offshore oil & gas industry backed by Abraaj Capital and Waha Capital.