Dubai Drydocks Invests in Shipbuilding
June 26, 2006
Shipbuilding has emerged as the second most important business for Dubai Drydocks, the region's leading ship repair facility, according to a report in Gulf News. Dubai Drydocks has invested $60 million in its shipbuilding infrastructure designed to open a new stream of revenues. Expansion in a new phase will cost another $10-$15 million.
In 2005, ship repairs accounted for 70 percent of turnover, followed by the ship conversion and newbuild businesses in equal parts. Eventually, a 50/50 split is the goal.
The new shipbuilding facility's capacity will rise to 4,500 tonnes of steel per month by early 2008 from the current throughput of 3,000 tons per month. (Source: Gulf News)
Related News
ESL Shipping's First Plug-in Hybrid Vessel Electramar Christened
Silver Ships Delivers First Four Coastal Fast Response Boats
UK Imposes Sanctions Over Russia-North Korea ‘Arms-for-oil’ Trade
Oil Spill Contained After Barge Slams Bridge in Galveston
US Anchors Aid Pier to Gaza Beach. Aid Delivery Faces Tough Road Ahead