Press Release: "Square Port Shipyard Private Limited, Subsidiary company of M/s Hazoor Multi Projects Limited signs MoU with Damen Technical Cooperation B.V. to develop its Shipyard and ....
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Square Port Shipyard Private Limited, a subsidiary of Hazoor Multi Projects, signed an MoU with Damen Technical Cooperation B.V. (part of Netherlands-based Damen Shipyards Group) to develop its shipyard at Dabhol in the Konkan region of Maharashtra. Under the understanding, Damen will help Square Port build ships from Damen's portfolio for both Indian and international markets. Damen is a globally reputed shipbuilder involved in ship design, construction, repair, conversion, and maritime services, with yards and service hubs across the world. The partnership aims to bring advanced shipbuilding technology to India, address capacity constraints in the domestic shipbuilding and repair industry, and position the Dabhol shipyard as a one-stop centre for shipbuilding services. The shipyard was earlier owned by Bharati Defence Infrastructure Limited.
This is a positive strategic development as it pairs a small-cap company with a globally recognised shipbuilding major, potentially unlocking export opportunities and technology transfer. However, an MoU is only a preliminary understanding and not a binding agreement, so shareholders should treat this as an early-stage positive signal and watch for concrete orders or further announcements.