BASREC

It was in the year 1959, the founding Chairman of this Company Mr.Ahmed Ali Kanoo mooted the idea of Ship Repair facility in the Arabian Gulf.

Mr. Ahmed Ali Kanoo who had the conviction and vision of the success of the Company wrote his first letter on 14th October 1959 to the Secretary to the Government of Bahrain advising that Bahrain needed a modern Ship Repair facility and in reply vide letter dated 17th November 1959 received approval for constructing the Ship Repair Yard in the area of new Port of Mina Salman. After a considerable correspondence having been exchanged and in reply to the letter dated 23rd February 1961 from M/s. Yusuf Bin Ahmed Kanoo Addressed to H.H. The Ruler of Bahrain Shaik Sulman Bin Hamed Al-Khalifa, the Secretary of the Government of Bahrain advised, vide his letter dated 1st April 1961, that His Highness in accordance with the advice received from the Port Committee, has consented to grant license to proceed with project and H.H Shaikh Sulman Bin Hamed Al-Khalifa also granted concession for the period of 20 years as per letter dated 22nd October 1961.

M/s. Yusuf Ahmed Kanoo requested H.H The Ruler of Bahrain to grant a charter to form the Company and this request was referred to the Government Administrative Council and the requested charter was granted on the 24th February 1962, the date of the incorporation of the Company.

The Company was founded by well known Bahraini business family in the Gulf, M/s. Yusuf Bin Ahmed Kanoo as a Bahraini public Shareholding Company incorporated by the Charter of His Highness the Ruler of Bahrain on 24th February, 1962.

51% of the Company shares are held by M/s. Yusuf Bin Ahmed Kanoo.

BASREC was the first ship repairing facility in the Arabian Gulf.