Sadhav Shipping Ltd Approves Incorporation of Joint Venture Company

Sadhav Shipping Limited has received approval for the incorporation of a proposed joint venture company. This development follows the company's recent joint venture agreement with United Petro Shipping PTE Ltd to establish an offshore supply base in India. Additionally, Sadhav Shipping and United Petro have signed a Memorandum of Understanding (MoU) with the Government of Odisha to develop comprehensive shipbuilding and offshore facilities. The new joint venture will focus on key business activities such as shipbuilding, dry dock and ship repairs, oil rig maintenance, and integrated offshore supply facilities. This strategic move is aligned with India's Maritime Amrit Kaal Vision 2047, aiming to boost port-led development and maritime clusters.

Source: Business Standard