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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

CMA CGM Intends Offer to Acquire NOL

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.

Oman Shipping Makes Profit

Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by  Oman News

Korean Shipbuilder Could Be Liquidated

South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.0874 sec (11 req/sec)