Dockyard seals contract to build two vessels for Iraq

Colombo Dockyard PLC (CD) has secured a contract with Toyota Tsusho Corporation (TTC) of Japan to build two vessels; Pilot Station Vessel and Buoy Tender Vessel, for General Company for the Port of Iraq (GCPI).

TTC and GCPI signed the contract on April 27 in Dubai, CD said in a media release.

TTC is a trading and investing company which is also a group company of

TOYOTA. By recognising the potential of CD, TTC decided to collaborate with the

Sri Lankan company for this project to compete and submit bid proposals in response to a tender floated by GCPI in

July 2017, it said.

“After the selection of the bid proposal submitted by TTC in collaboration with CD, there were contract negotiation meetings in Basrah, Iraq and in Colombo, Sri Lanka. These negotiations and discussions were able to strengthen the relationship between the parties to enter in to a successful contract.”

The two vessels are to be delivered in Iraq in April 2020.

CD was established in 1974 mainly for shipbuilding and ship repairing activities, and in the span of 44 years has earned a reputation internationally, of being one of the most competitive and dynamic shipbuilding and ship repairing facility in the South Asia region.

CD operates in joint collaboration with Onomichi Dockyard Company Limited of Japan which owns a stake of 51 per cent at Colombo Dockyard. CD also has a 35 per cent shareholding from Sri Lankan Government institutions.

After the selection of the bid proposal submitted by TTC in collaboration with CD, there were contract negotiation meetings in Basrah, Iraq and in Colombo, Sri Lanka. These negotiations and discussions were able to strengthen the relationship between the parties to enter in to a successful contract