Bangladesh will start producing hydraulic machinery for vessels in pursuing efforts to reduce outsourcing hydraulic tasks overseas, reports The Daily Star.
A local firm, Western Fishers Shipyard Ltd (WFSL), and its Danish partners DanSea and AS Scan have made a deal marking the formation of a joint venture, Scan Machinery BD Ltd.
The production portfolio of this new company will comprise hydraulic machinery ranging from steering gears to winches, net drums, propellers and nozzles.
A Rouf Chowdhury, chairman of WFSL, will be in charge of the new company as its chairman and Lars Jensen of DanSea is the managing director of the 50:50 joint venture.
Supported by Danish International Development Agency’s business partnership program, the company will focus on supplying hydraulic systems to vessels including deep-sea fishing trawlers, oil tankers, ferries and domestic and export oriented ships. According to the statement, the company will also provide onboard installation and after-sales services.
It is expected that hydraulic systems will be supplied to vessel builders by July this year, said Md Sakhawat Hossain, managing director of Western Marine Shipyard Ltd, a partner WFSL.
“ We don’t want to limit ourselves to Bangladesh only. In future, we want to secure export orders not only from Asian market and but also from Europe,” explained Hossain , adding that the company will initially invest $1 million.
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World Maritime News Staff, March 6, 2012; Image: WFSL