Indonesia Plans Major Investments in Shipbuilding Sector

New $156 million worth investments aimed at revitalizing the Indonesian shipbuilding industry during 2012 to 2013 period have been announced by the country’s Industry Ministry. Names of three companies to take part in the project have been revealed, those being Dok, Perkapalan Surabaya and Daya Radar Utama, Investor Daily reports.

According to the director general for high-tech industries at Indonesia’s Industry Ministry Budi Darmadi “the investment includes requiring the firms involved to build new shipyards, revitalize aging ones and procure new machinery.”

The overall objective is to cut the average ship assembly time span from the current 18 to 8 months and increase the sector’s capacity so as to enable the government to reduce the maximum age of ships operating in Indonesia from 20 to 15 years of age.

In three to four years the Indonesian government plans to build up the nation’s shipbuilding industry in order to produce its own compressed natural gas and LNG carriers, thus gaining more independence.

[mappress]

Shipbuilding Tribune Staff, October 2, 2012; Image: sby