Oceanco is in the midst of an expansion that will permit it to double its megayacht production.
Mohammed Al Barwani (pictured), chairman of Oceanco and the Oman-based company MB Holding Group, which acquired the shipyard in 2010, told reporters the news last week at a press conference in his home country. According to the Oman Observer newspaper, Al Barwani also says that the number of employees will double, to about 400. Oceanco has additionally revealed that it is building a 525-foot-long (160-meter-long) drydock, for the construction of megayachts from 328 feet (100 meters) and larger.
The expansion will permit Oceanco to build up to 10 megayachts at once, depending on LOA. It can build five megayachts measuring 262 feet (80 meters) and larger simultaneously right now. While Oceanco has built yachts as “small” as 123 feet (37.5 meters) since being established in 1987, most of its projects are in excess of 262 feet. Witness its most two recent launches, these being Nirvana and Y708, measuring 290 feet (88.5 meters) and 281 feet (85.6 meters), respectively.
“Our business in the Netherlands is extremely successful,” the Oman Observer quoted Al Barwani as saying. “In the past year we sold about five superyachts. The total value of these superyachts would be about 750 to 800 million euros,” or about US$972.4 million to US$1.037 billion. He adds that the expansion will be about 80 million euros, or about US$104 million. Oceanco states that if its current builds were placed end to end, the total would be nearly 1,969 feet (600 meters).
Oceanco also indicates that additional facilities will expand as needed in the coming years, for both its direct employees and subcontractors.
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