Western Marine to expand its shipbuilding facilities in Chittagong
Tuesday, 24 July 2007
FE Report
Western Marine Shipyard Ltd, a local shipbuilding company, is going for a major expansion of its existing shipyard facilities in Chittagong to build more ships at a time.
The Western Marine officials said, they have already started physical works for expansion of the shipyard from existing 3-acre compound to 10 acres this month.
The shipyard, located near Shikalbaha Power Plant at Kolagaon union under Patiya upazila of the district, is to be upgraded to automatic one by installing state-of-the-art technologies.
Apart from earning handsome amount of foreign currencies a year, the shipyard is expected to create employment opportunities for more than 2,000 people. The expansion will also help grooming skilled manpower for the growing shipbuilding industry, the officials also said.
Besides, Western Marine has already received an order from a European country to build five 4,100-tonne cargo ships, and the company will start building these vessels from September.
"The expansion will open a new era in the country's shipbuilding industry, and also encourage the foreign companies to invest in the sector," a high official of the company said. Experts also said, the expansion serves as a testament to rising momentum in the country's shipbuilding industry.
Bangladesh currently earns foreign currency equivalent to Tk 5.0 billion (500 crore) per year from the sector. The earning can be increased up to Tk 50.0 billion per year, if all concerned extend their support to the sector.
Western Marine Shipyard Ltd, a local shipbuilding company, is going for a major expansion of its existing shipyard facilities in Chittagong to build more ships at a time.
The Western Marine officials said, they have already started physical works for expansion of the shipyard from existing 3-acre compound to 10 acres this month.
The shipyard, located near Shikalbaha Power Plant at Kolagaon union under Patiya upazila of the district, is to be upgraded to automatic one by installing state-of-the-art technologies.
Apart from earning handsome amount of foreign currencies a year, the shipyard is expected to create employment opportunities for more than 2,000 people. The expansion will also help grooming skilled manpower for the growing shipbuilding industry, the officials also said.
Besides, Western Marine has already received an order from a European country to build five 4,100-tonne cargo ships, and the company will start building these vessels from September.
"The expansion will open a new era in the country's shipbuilding industry, and also encourage the foreign companies to invest in the sector," a high official of the company said. Experts also said, the expansion serves as a testament to rising momentum in the country's shipbuilding industry.
Bangladesh currently earns foreign currency equivalent to Tk 5.0 billion (500 crore) per year from the sector. The earning can be increased up to Tk 50.0 billion per year, if all concerned extend their support to the sector.