A very important association is the agreement signed by Anabalca (Astilleros Navales Bahia de las Calderas), with Damen Shipyards, one of the world's largest ship constructing firms, for the purpose of starting the long overdue project of ship-building in the Dominican Republic.

This association was performed for the purpose of constructing 6 vessels (2 tugs and 4 patrol boats) for the Dominican Navy, with an overall investment of US $ 20,300,000.00, in the means of working capital, machinery, parts, equipment, staff and training.

The construction process started on February 2003, and all the vessels are coming along way ahead of schedule, exceeding by far even our associate expectations, in a project totally new for our country and our work force.

Also, on April 2003, Ciramar signed an even more interesting long term agreement with Damen Shipyards, as both companies has decided to perform a joint venture for the construction of a large variety of marine vessels for the international market. Ships will be built by our crew, at our shipyard in Las Calderas with Damen technology and supervision.

Our partner, Damen Shipyards, over the years, has developed into a leading, internationally operating enterprise in the field of new building and repair of ships as well as maritime services.

Damen Shipyards was formed in 1927 in the Netherlands. In 1969 the concept of construction of tugs, workboats and other commercial craft to standardized designs and according to "modular building principles" was introduced. This modular design and building concept brought international recognition and hastened the Group's development to its present position. From its base in the Netherlands, the Damen Shipyards Group is active in the design and construction of ships and in ship repair.

The Damen Shipyards Group serves a global market and is considered to be the market leader in the maritime sectors in which it operates.

This joint venture will benefit both parties, as Ciramar will enter into a larger market, carrying the ability to effectively compete in it, and Damen will have a facility in the Caribbean. This will allow Damen's technology to be accessible for markets such as United States, Mexico, and other important markets within the area. Ciramar will start building ships of different kind, throughout contractual arrangements, with different companies around the world.