Home » Maritime » Indian firm signs up for shipyard-for-rent program

SUBIC Bay Metropolitan Authority (SBMA) recently inked a 25-year contract with Indian company ABG Shipyard Ltd for the latter to operate a shipyard under the SBMA’s shipyard-for-rent program.

The program allows big shipyard operators to lease facilities from the SBMA at preferential rates and, in turn, offer them for use to small- and medium-scale domestic shipyard operators.

The scheme was hatched to free domestic shipyard operators from having to make investments in shipyard facilities.

“With the yard already operational, small- and medium-scale shipyards may now market for larger and bigger vessels without shelling out huge investments to increase their yard capacity,” SBMA seaport manager Capt. Perfecto Pascual said.

“This will really boost shipbuilding activities in the country as small- and medium-scale shipyards can now compete with the bigger ones,” he added.

ABG Shipyard Ltd joins US Dock Corp as the second shipyard operator under the program.

SBMA is developing a 50-hectare property for the shipbuilding facility, offering affordable rent to help lower local shipbuilders’ cost.

Under the program, SBMA will also rent out equipment, including the Synchrolift system, a large shiplifting equipment which allows the raising and lowering of vessels in and out of the water for drydocking ashore.

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