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.
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 RequiredApproximately US$1 billion
Type of InvestmentConsortium, equity investor or joint-venture partner (the ideal investor must be able to access financing independently)
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:
The fiscal and other incentives applicable for the project include: