Maldivian yacht builders to establish facility in Hambantota Port



From left: Lalith Ekanayake, Assistant General Manager, Port Investment Services, HIPG; Tim Xiao, Senior General Manager, Port Investment Services, HIPG; Ravi Jayawickreme, CEO, HIPS; Johnson Liu, CEO, HIPG; Minister Namal Rajapaksa; Omar Abdul Razzak, High Commissioner Maldives in Sri Lanka; Ali Hussain Didi, President, SHY; Ahmed Zareer, Director, SHY; Mohamed Nasheed, CEO, SHY; and Shifag Athif, Corporate Executive, Sea Limousine Maldives.

Sea Horse Yachts (Pvt) Ltd recently entered into an agreement with the Hambantota International Port Group (HIPG) to set up a state-of-the-art yacht building facility at the port.

The agreement was signed by Johnson Liu, CEO, HIPG and Ali Hussain Didi, President, Sea Horse Yachts (Pvt) Ltd. at a signing ceremony held this week in the presence of Sports and Youth Affairs Minister and State Minister of Digital Technology and Entrepreneur Development Namal Rajapaksa and High Commissioner of Maldives to Sri Lanka Omar Abdul Razzak, HIPG said in a media release.

The initial investment for the facility which will be located within the Hambantota International Port is approximately US$58 million (Sri Lankan Rupees 11.5 billion) and production is set to commence by early 2022. The project is expected to generate over 200 direct employment opportunities and an additional 300 indirect employment opportunities, it said.

The newly incorporated Sea Horse Yachts Ltd (SHY), is a premium luxury yacht builder, located in Hambantota. SHY will be managed by an experienced team of experts from Sri Lanka, closely supported by British, European and South African innovators and designers. The company is privately owned by boating enthusiasts from Maldives with extensive knowledge and experience in marine transportation and luxury yachting. They have a long history in boating and life at sea and will engage with international partners to establish the state-of-the-art yacht building factory in Sri Lanka.

High Commissioner of Maldives to Sri Lanka Omar Abdul Razzak said: “I understand this new collaboration to build state of the art, modern, luxury, high-speed passenger boats and yachts would have the highest standards, and would use advanced composite materials and innovative technologies in boat building.”

Johnson Liu, CEO of HIPG, said: “We are rapidly moving to diversify HIP’s industrial zone portfolio and at the same time we are widely promoting the location internationally. We have signed with more than 30 investors from across the globe i.e. UK, Singapore, Japan, Sri Lanka, China and now the Maldives. We provide on ground logistical and operational support for these new ventures so that they will be up and running within a short space of time.”

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