Sadhav Offshore Raises Rs 25 Crore for Dry Dock Facility

Sadhav Offshore, a prominent maritime services provider in India, has successfully raised Rs 25 crore through an equity round led by the Negen Undiscovered Value Fund. This funding round also attracted investments from various family offices and high-net-worth individuals.

The funds obtained will be allocated towards capital expenditure aimed at establishing a floating dry dock facility.

Current Operations of Sadhav Offshore

Sadhav Offshore is currently engaged in servicing a diverse array of vessels, including more than 70% of the Indian Coast Guard’s FPV fleet located along the eastern seaboard.

The firm operates a repair facility at Paradip Port and has a history of servicing international clients, including Svitzer-Maersk. Furthermore, it holds technical partnerships with companies such as Kongsberg Maritime, which is focused on propulsion system servicing.

Alignment with Maritime Development Goals

This expansion initiative is in line with India’s national maritime development goals as outlined in the Sagarmala project and the Maritime India Vision 2030.

The Importance of the Planned Dry Dock

The proposed dry dock facility aims to address a significant gap in India’s ship repair infrastructure, which currently lacks sufficient domestic services, often necessitating that ships travel abroad for their maintenance needs. A dry dock is designed to lift ships out of water, allowing for essential work on components that are typically submerged, such as repairs, inspections, and cleaning.

Enhancing Local Repair Services

By providing dependable local repair services for both commercial and defence vessels, this new facility is poised to minimize delays and enhance operational efficiency.