Dolphin to buy shipyards

Mumbai-based Dolphin Offshore Enterprises (India) Ltd (Dolphin), which provides offshore and onshore integrated services to the oil and gas industry, is foraying into shipbuilding. It has earmarked an investment of just over $100 million for the project and is eyeing two existing shipyards on the West Coast for acquisition.

Gujarat Maritime Board has already allotted land at Jafrabad in Gujarat and the project will take off in about two years. It would be completed in three phases. Dolphin is considering positioning the greenfield project at the grassroots level to build smaller vessels of up to 100 metres. These vessels would be used by the oil and gas industry. Navpreet Singh, joint managing director, Dolphin said, ???We plan to begin with smaller vessels because it does not require much investment and additional infrastructure.??

For the acquisition, Singh denied naming the shipyards but said that although they have not started manufacturing, one of them already has the licences. Dolphin plans to finalise the deal in the next 2-3 months. With the acquisition, The company would get the shipbuilding expertise and the entire management, which would also be helpful for greenfield projects at a later point.

Started in 1979 as a diving contractor, Dolphin has expanded its activities to include diving and underwater services, marine operations and management services, topside/fabrication services, maintenance and modifications of offshore structures and ship repair, among others.