Qatar gas transportation company Nakilat and Dutch shipping company Damen Shipyards have teamed up to build marine vessels from next year

The two firms are set to build vessels including coast guard boats and luxury yachts at the Ras Laffan port in North Doha in Qatar in a bid to expand revenue sources.

Nakilat will be a majority shareholder in the joint venture, which is expected to finish by the end of 2009.

Nakilat has also formed a venture with Singapore’s Keppel to operate a dry dock at Ras Laffan for the repair and maintenance of LNG tankers.