Sembawang Shipyard Pvt and Kakinada Seaports to set up shipyard

Sembmarine Kakinada Ltd (SKL), a joint venture between Singapore-based Sembawang Shipyard Pvt. Ltd and Kakinada Seaports Ltd, will set up a shipyard at Kakinada port at an estimated cost of $ 375 million, Exim News Service reports.
The shipyard will cater to offshore units and merchant vessels operating in the Indian waters, it was announced here.
The yard would be developed in three phases over three to five years. Discussions are under way on the funding arrangements and would be finalised in about three months, SKL Director, Mr Kris Nittala, said.
"We are presently looking at a 30:70 agreement for infusing funds for the construction of the yard, which may go up to be a 50:50 venture of the two companies," he elaborated.
The shipyard would offer integrated services to offshore vessels and merchant ships for construction, conversion, repair and servicing works, Mr Ong Poh Kwee, Deputy President of Sembcorp Marine and Managing Director of Sembawang Shipyard, said.
"The Krishna-Godavari and Mahanadi basin areas are exploration hotspots. We are optimistic of the region’s growth in terms of shipping and offshore activities, which will provide sustainable growth to our company," he opined.
Transocean Offshore International Ventures Ltd India, a subsidiary of Transocean USA, Aban Offshore Ltd and MARCAS have entered into an agreement with SKL to utilise the shipyard’s facilities to support their ongoing drilling units.

Source:  Transport Weekly