A Maldivian-owned company has signed an agreement to build a major shipyard in Hambantota, Sri Lanka.
The shipyard is being built by Sea Horse Yachts Limited, a company owned by Maldivian shareholders and registered in Hambantota, Sri Lanka. The company signed an agreement with Hambantota International Port Group on August 9 to build a shipyard worth about USD 58 million.
The agreement to build the shipyard was signed by President of Sea Horse Yachts, Ali Hussain Didi, and CEO of Hambantota International Port Group, Johnson Liu. The ceremony held to sign the agreement was attended by the High Commissioner of the Maldives in Sri Lanka Omar Abdul Razak, as well as the Youth Minister of Sri Lanka Namal Rajapaksa.
Speaking at the ceremony, Minister Namal Rajapaksa noted the Maldives and Sri Lanka have built their economies around marine transport. He said the Sri Lankan government will strive to sustain and enhance the long-standing economic and trade ties established with the Maldives.
Meanwhile, High Commissioner Omar Abdul Razak stated the new shipyard established under the agreement will produce high-quality vessels, built to modern standards using the latest technology. He added such agreements would strengthen the close bilateral ties between the Maldives and Sri Lanka.
Sea Horse Yachts Limited is a company that builds premium yachts. The designers and innovators of the company are from Europe and South Africa.