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.”
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.”