Sea Horse Yachts (Pvt) Ltd announces facility in Hambantota Port

Sea Horse Yachts (Pvt) Ltd has recently entered an agreement with the Hambantota International Port Group (HIPG) to set up a new state-of-the-art yacht building facility at Sri Lanka’s Hambantota International Port. The geographical location of this venture will allow for ease in shipping and resourcing.

The investment for this project is said to be €49.3 million (c. $58 million), with production set to commence by early 2022. Located within the Hambantota International Port, the venture is expected to generate over 200 direct employment opportunities and an additional 200 indirect opportunities.

The signing ceremony for this project was held this week where the agreement was signed by Johnson Liu, CEO of HIPG, and Ali Hussain Didi, president of Sea Horse Yachts (Pvt) Ltd.

During the ceremony, Namal Rajapaksa, Sports and Youth Affairs Minister and State Minister of Digital Technology and Entrepreneur Development, said “The objective of our government is to promote Sri Lanka as a maritime and aviation hub in South Asia focusing on transhipment and manufacturing. This project is a landmark for the yacht industry and for yacht manufacturers as Sri Lanka has a rich history in boat building dating back to the times of our kings. Island nations such as Sri Lanka and the Maldives have always built their economies around trade and our proximity to ancient maritime routes which are still used to this day.

“We look forward to strengthening these and developing them to cater to the needs of a modern world. Ventures such as this will pave the way for the next generation of youth, providing them with the knowledge and the tools to build an entirely new industry and a new era of boat building! I hope it will serve as a catalyst to spark in our youth the entrepreneurial drive to take Sri Lanka to the next level.”

Sea Horse Yachts (Pvt) Ltd is a newly incorporated yacht builder with extensive knowledge marine transportation and the superyacht industry. The business will be managed by a highly experienced team of experts from Sri Lanka, closely support by British, European and South African innovators and designers.

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Source: Columbo Page