Gareware Offshore looking at shipbuilding ventureNews // October 8, 2007
Mumbai-based Garware Offshore Services Ltd plans to enter the shipbuilding business by setting up a facility to build offshore support vessels.
Reports from India say the yard will be a joint venture with Norway-based ship Havyard Leirvik AS.
Sources in India have suggested that the company will form a 50/50 joint venture, and that the Indian company is considering various sites in Gujarat for the yard.
“We have been building ships for Garware. Now we are looking at cementing this relationship through other alternative investment options together. However, nothing has been finalized,” said Geir Johan Bakke, president and CEO of Havyard Group, talking to the Indian media.