Khamis Juma Buamim, the chairman of Drydocks World, has spent his first two years as head of the Dubai World subsidiary grappling with its debt problems - and defining a growth strategy. With the company's debts totalling US$2.2 billion (Dh8.08bn) about to be restructured, and its future mapped out, Mr Buamim spoke to The National about the way ahead at his office in the midst of the Dubai shipyard next to Port Rashid.
What is your growth strategy?
We transformed company strategy in late 2010. We … are driving towards servicing the oil and gas sector. Oil and gas is becoming almost 80 per cent of our business. We are a marine-based organisation. We had to think seriously what would happen in the next 15 to 25 years, and we plotted it out. The data indicated that the only industry that has a growth cycle up to 2030 in some cases is the energy industry.
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