Boluda invests in Morocco yard

SPAIN’S Boluda has won approval from Moroccan authorities to build a new shipyard in Morocco.

The Boluda plans to invest €14M ($19.5M), a senior group executive said. Boluda is finalising details of the investment with Moroccan authorities.

The facility will be designed to build tugs and small petrol tankers, the Boluda source said. The group is looking at Agadir, Morocco, as a site, but no decision has yet been taken.

"The demand for tug newbuilding orders remains high, and our capacity at our Valencia yard is limited,” the source told Fairplay. “That's why we are seeking to operate a new facility in Morocco. Morocco is happy for us to build a yard.”

The yard in Morocco is expected to be built uniquely for newbuilding orders. There are no plans for repairs.

SPAIN’S Boluda has won approval from Moroccan authorities to build a new shipyard in Morocco.

Source: Fairplay