State-of-the-art yacht building facility to be established in Hambantota Int. Port
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.
The initial investment for the facility which will be located within the Hambantota International Port is set at approximately USD 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.
The newly incorporated Sea Horse Yachts Ltd. (SHY), is a premium luxury yacht builder, located in Hambantota, Sri Lanka. SHY will be managed by a highly 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.
“We are rapidly moving to diversify the HIP’s industrial zone portfolio and at the same time widely promoting this location internationally. We provide on ground logistical and operational support for these new ventures so that they will be up and running in a short space of time. This is done under our new operational blueprint ‘HIPG Speed’,” says Johnson Liu, CEO of HIPG.
Ali Hussain Didi, President of SeaHorse Yachts says, “Sri Lanka is uniquely positioned for this ambitious venture with its geographical location allowing for an optimal connection to the shipping routes allowing for ease in shipping and resourcing. We would also be at a competitive advantage because of the special incentives provided by the Board of Investments of Sri Lanka. The close support and investment security provided by HIPG and the cost of professional and skilled manpower in Sri Lanka cannot be over emphasized.”
Considering the scope of development and increased manpower requirement that is envisaged over the first 10 years’ of the operation, SHY intends establishing an On-the-Job Training (OJT) facility within the boatyard, to train staff. “We believe this will provide opportunity for Sri Lankan Vocational Training Institutes, by including this particular OJT segment in their curriculums. While this would enhance our employee portfolio, we believe this would also be of great advantage for the Sri Lankan industrial development targets set by the Sri Lankan Government through its Boat Building and Nautical Tourism aspirations. Our global reach and expertise will ensure sharing knowledge of the highest technical innovations which are often guarded by developed nations,” says Ali Hussain Didi, President of SHY.
He adds that Sri Lanka has extremely talented engineers and highly skilled artisans who often seek employment opportunities overseas, and SHY intends to harness this extremely valuable asset.
Sea Limousine, a private company in Maldives, has already confirmed an order with SHY for 9 units of 30 meter luxury high speed ferries and 20 units of 14 meter luxury high speed feeder yachts with a market value over USD 100 million. The company is currently in the final stages of negotiation with Brythonic Yachts of UK to assemble 4 x 45 meter and 2 x 120-meter super and mega yachts for their private clientele.
