Square Port, Damen partner to develop ships for domestic, global markets

Energy firm Hazoor Multi Projects Limited (HMPL) announced on Thursday that its subsidiary, Square Port Shipyard, has entered into a strategic partnership with Netherlands-based Damen Technical Cooperation BV to develop its shipyard and construct vessels for both domestic and international markets.

Damen Technical Cooperation BV, part of the renowned Damen Shipyards Group NV, brings extensive expertise in ship design, construction, maintenance, component manufacturing, and vessel conversion. The collaboration aims to leverage this global experience to strengthen India’s shipbuilding capabilities.

A Memorandum of Understanding (MoU) has been signed between Square Port Shipyard and Damen to jointly work on upgrading the Dabhol-based facility in Maharashtra’s Ratnagiri district and initiate shipbuilding projects tailored for diverse market needs.

The partnership marks a significant step toward enhancing India’s maritime infrastructure and positioning the country as a competitive player in the global shipbuilding industry.