Reliance Group to Invest in Dredging Market

Friday, September 14, 2007
News sources including The Economic Times of India say the Reliance Group is set to enter the shipbuilding and dredging markets with two separate companies.

Sources said the petroleum giant is expected to invest around $1b each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business. The $2b investment is over and above the $1.3binvestment that the Group is making at Rewas Port, off Navi Mumbai. The shipyard will be built at Rewas, where Reliance is setting up a mega-port and a special economic zone (SEZ). The company is also looking at a ship repair yard at Kakinada for servicing offshore/platform vessels and rigs. The group will repotedly spend around $1b to build dredgers at its own shipyard and other yards. Plans are also afoot to set up a mega dredging company, which will compete with international giants based in Europe. Source: Dredging News

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Nigerian Minister Pledges $1.3 bln for Power Companies

Nigeria's oil minister announced a 213 billion naira (1.3 billion US dollar) bail-out package for power companies on Saturday, nearly a year after the sector was privatised.

Russia's Yamal LNG Project May Tap Wealth Fund in 2014

Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies.

ICC Conference Focuses on Platform to Settle Disputes

The 5th ICC International Commercial Mediation Conference has brought together leading mediators, arbitrators, corporate managers and in-house counsel from around

Dredging

Sacramento & Stockton Ship Channel Dredge Contract for Ross Sand & Gravel

The US Department of Defense inform that Ross Sand and Gravel, Portland, Oregon, has been awarded a US$24,000,000 firm-fixed-price contract for maintenance dredging

Tanzania Receives $565m to Expand Port

Tanzania signed a $565 million deal on Friday with the World Bank and other development partners to expand its main port of Dar es Salaam, part of plans to boost

DOT Awards Grant for Rehabilitation of Wando Welch Terminal

Demand Demonstrates Need for Greater Transportation Investment through GROW AMERICA Act U.S. Transportation Secretary Anthony Foxx today announced a $10.8 million

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1346 sec (7 req/sec)