Dry-Docking Facilities

Dry-Docking Facilities

The expansion of the Panama Canal and construction of the Nicaraguan Canal coupled with Trinidad and Tobago's location in sheltered waters create dry-docking investment opportunities.

Overview of Proposition

Currently there is one major dry-dock in operation servicing ships up to 230 metres long and with a lifting capacity of 23,000 metric tons. The capacity for additional services and repairs can be increased with the establishment of a major dry-docking facility by investors.

The proposed project would capture some of the growing demand for large ship repairs along the eastern seaboard of the Americas.

  • Investment Required

    Approximately US$1 billion
  • Type of Investment

    Consortium, equity investor or joint-venture partner (the ideal investor must be able to access financing independently)

Functions of Proposed Facility

The ship repair and maintenance services industry is made up of companies engaged in the regular maintenance of ships, as well as reactionary repairs both in and out of the water.

Some of the functions of the proposed dry-dock and ship repair facility in T&T will include:

  • Conversion of ships for new purposes
  • Large ship service and repair
  • Medium and small ship service and repair
  • Fabrication of marine equipment
  • Docking facilities for repairs while in the water
  • Inspection services
  • Testing services
  • Drilling rig maintenance
  • Waste, garbage and steel disposal

Incentives to Invest

The fiscal and other incentives applicable for the project include:

  • Exemption from customs duties on the construction of the project
  • Exemption from value-added tax
  • Exemption from income tax on dividends or other distribution, other than interest, out of profits or gains
  • Duty-free treatment of raw materials, machinery and equipment

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