New Malaysian shipyard ready for ops in July

Avanzamento Engineering?s (AESB) new shipyard in Manjung, Perak, Malaysia, will start operating in July 2006. About $13.2 million has been invested in the shipyard, which will employ 50 to 60 people and specialise providing maintenance, repairs and overhaul services and supply logistic support equipment for naval and coast guard frigates. With the new facility, the yard hopes to improve its revenue from $8 million to about $12 million.

AESB expects to become a one-stop centre for maintenance, repair, and overhaul services by 2008 and is sourcing for additional funds from interested investors. The company’s prospects are claimed to be good as there were only a handful of players in the country currently involved in the same business. Even within Malaysia, there are ample opportunities for growth the company claimed.