RIL to Invest into Shipbuilding, Dredging

Monday, September 17, 2007
The Reliance Group is set to make an investment in shipbuilding and dredging with two separate companies. Sources said the petroleum-to-retail 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. This investment is over and above the $1.3b investment committed for the Rewas Port, off Navi Mumbai. The shipyard will come up 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. This facility is expected to be the hub for all its offshore activities in the KG basin, where Reliance Industries (RIL) has struck oil and gas in abundance. The group will spend around $1 billion 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 such as Van Oord and Dredging International. Sources said Reliance wants to cash in on the two booming sectors of shipbuilding and dredging. As a majority of existing foreign shipyards are full with orders, shipbuilding prices are expected to remain firm for another couple of years. On the dredging side, almost all Indian ports are trying to deepen their berths and approach channels in order to accommodate larger ships. This has increased the demand for dredgers, pushing up charter rates to new highs, while the supply remains sluggish. (Source: http://economictimes.indiatimes.com)
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Activists Planning Protest Against Shell's Arctic Business

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell's plans to drill for oil in the Arctic.

Protests Shut Channel Tunnel Again

The Channel Tunnel closed again on Tuesday due to protesting MyFerryLink workers, its operator Eurotunnel and French traffic supervision body Bison Fute said. The

CMA CGM, Chinese Bank in Finance Deal

French container shipping group CMA CGM said on Tuesday it will sign a $1 billion financing agreement with the Export-Import Bank of China. Marseilles-based

Shipbuilding

Technip Wins Jurong's FPSO Conversion Contract

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. The project is part of the conversion of a shuttle tanker into a floating,

Samsung Bags Order for Decks on Johan Sverdrup

Statoil, on behalf of the Johan Sverdrup license, has awarded Samsung the contract for decks for both the process and riser platforms.  The total contract value is NOK 7 billion.

Wartsila Tunnel Thruster Gets LR Approval

Wartsila has successfully passed the final step of the Lloyd's Register (LRS) classification society's Type Approval process to obtain an LR Type Approval Certificate

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Winch
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: 0.2667 sec (4 req/sec)