Joint venture to build shipyard in Qatar
A Qatari company has signed an agreement with Singapore's Keppel Offshore and Marine to jointly develop a $450 million shipyard in Qatar, a Keppel statement said yesterday.
The Qatar Gas Transport Company, which specialises in transporting liquefied natural gas, will own 80 per cent of the joint venture company that will manage the design, construction and operation of the 43-hectare shipyard in the port of Ras Laffan, the statement said.
It said the remaining 20 per cent will be owned by KS Investments, a wholly-owned subsidiary of Keppel Offshore and Marine, one of the world's top companies for ship repair, ship conversion and construction of offshore drilling rigs.
The joint venture will be known as Nakilat-Keppel Offshore & Marine.
Nakilat is the acronym of Qatar Gas Transport Company, a three-year-old joint stock company owned 50 per cent by its founding shareholders and 50 per cent by the public, according to the statement.
The shipyard - part of the expansion of Ras Laffan - is expected to begin operation in 2010.
"Our vision is for the new shipyard to become a centre of excellence for the repair and maintenance of LNG carriers," Mohammad A Ganam, the managing director of Nakilat, said.
The Qatar Gas Transport Company, which specialises in transporting liquefied natural gas, will own 80 per cent of the joint venture company that will manage the design, construction and operation of the 43-hectare shipyard in the port of Ras Laffan, the statement said.
It said the remaining 20 per cent will be owned by KS Investments, a wholly-owned subsidiary of Keppel Offshore and Marine, one of the world's top companies for ship repair, ship conversion and construction of offshore drilling rigs.
The joint venture will be known as Nakilat-Keppel Offshore & Marine.
Nakilat is the acronym of Qatar Gas Transport Company, a three-year-old joint stock company owned 50 per cent by its founding shareholders and 50 per cent by the public, according to the statement.
The shipyard - part of the expansion of Ras Laffan - is expected to begin operation in 2010.
"Our vision is for the new shipyard to become a centre of excellence for the repair and maintenance of LNG carriers," Mohammad A Ganam, the managing director of Nakilat, said.
