Sembawang signs shiprepair joint venture with Kakinada port

Mumbai: Kakinada Sea Ports Ltd (KSPL) has signed a joint venture project with Singapore's Sembawang to set up a shiprepair facility at Kakinada port, on the Andhra Pradesh coast.
   
The repair yard, to be built at a cost of $375 million, will cater to merchant vessels, offshore vessels and rigs taking up oil and gas exploration in the Krishna-Godavari basin.
   
"At present, these vessels are being taken to Singapore for repairs," said K V Rao, chairman and managing director of KSPL. "A lot of time and cost can be saved. For the locals, there will be provision of 1,500 jobs."  [23/04/10]