Dubai based Drydocks World is close to sealing a deal to buy a majority stake in a shipyard in China and has major plans to expand its operations in Indonesia.
The yard, in the Shanghai area is in its early stages of operation and requires further investment from the Dubai based Company to capitalize on the opportunity. The potential acquisition is part of a wider plan to expand globally.
Plans for the yard are yet to be finalized with the company currently undertaking market study work to determine the layout and facilities; however reclamation work at the site is likely to start at the end of September.
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