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Japan’s Onomichi Dockyard is cashing out of Sri Lanka’s largest shipyard.
The Japanese company intends to sell its 51% shareholding in Colombo Dockyard and end a management agreement that has been in operation for over three decades
Colombo Dockyard is in preliminary discussions with a number of parties who have expressed interest in investing in the strategically well-located facility.
The shipbuilding and repairing company suffered its worst year in 2023 with losses totalling more than $25m.
The post Investors sought to take over Sri Lanka’s top shipyard appeared first on Energy News Beat.
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