Energy and infrastructure company Hazoor Multi Projects' subsidiary, Square Port Shipyard, has signed a memorandum of understanding (MoU) with Netherlands-based Damen Technical Cooperation. The collaboration aims to develop the Dabhol-based shipyard in Ratnagiri, and construct ships for both domestic and international markets.

Damen Technical Cooperation is part of the globally renowned Damen Shipyards Group NV, known for its expertise in the design, construction, repair, conversion, and maintenance of ships and ship components. Square Port Shipyard, strategically located on the western coast of India, offers a broad range of maritime services, and this new alliance is expected to enhance its shipbuilding and repair capabilities.

By partnering with Damen, a leader in maritime technology and shipbuilding, Square Port Shipyard aims to attract clients from across the globe, while supporting the Indian government’s vision of maritime development under initiatives like ‘Make in India’ and ‘Sagarmala’