BusinessFeaturedMaterials Handling & Warehousing

Tridock Shipyard Namibia to Build $728 Million Drydock Facility in Walvis Bay

With a $728 million investment, Tridock Shipyard Namibia (Pty) Ltd has revealed ambitious plans to build a cutting-edge drydock facility in Walvis Bay, Namibia. The facility intends to support the maritime sector along the western coast of Africa, particularly as the number of vessels operating in the area keeps increasing. In its early phases, the drydock is expected to bring in about US$150 million (N$2.7 billion) a year, with the potential to treble that amount in the three years after it is put into service. According to a recent analysis by Mining & Energy, the facility has the potential to quickly contribute significantly to Namibia’s maritime operations and economy.

The drydock, which will span 65 hectares, will be able to handle a variety of boats, including ones up to 50 meters in beam and 300 meters in length. It will provide vital services to a range of large-scale boats, such as dredgers, offshore mining ships, and oil rigs, and run constantly, seven days a week. The facility’s location in Namibia is a calculated effort to draw in a consistent stream of customers and build a new center for vessel repair and maintenance in the area, as many of these vessels currently sail to South Africa for maintenance. As a result, Walvis Bay might become the most sought-after location for marine activities on Africa’s west coast.

The economic impact of the project is expected to be substantial, with projections indicating the creation of up to 1,000 direct jobs and additional downstream employment opportunities. This increase in employment will stimulate local economies, with enhanced trade and growth in auxiliary industries supporting maritime operations. According to a leaked document, “The project will stimulate local employment, trade, and economic growth, making a substantial contribution to Namibia’s development.” Such growth aligns with the Namibian government’s objectives to attract foreign investment and develop critical infrastructure.

The project is currently undergoing Environmental Impact Assessments to ensure it meets regulatory standards. A market study conducted in 2023 to analyze vessel traffic along the south-western coast of Africa revealed a mid-case annual potential of 188 vessel repairs, including 85 commercial fleet vessels of up to 200 meters in length and 91 vessels ranging from 200 to 300 meters. The study results provided an encouraging outlook for the drydock’s success, confirming a robust demand for vessel maintenance and repair services in the region.

Construction is expected to commence in 2026, with an anticipated commissioning date in 2031. Upon completion, Tridock Shipyard’s drydock facility in Walvis Bay is poised to position Namibia as a leader in maritime services, providing world-class capabilities to support the global maritime industry.

Related posts

Ctrack continues to evolve into 2023

Michael Mwanza

UD Trucks Southern African introduces Croner bus range

Michael Mwanza

Ctrack channels its ‘Power to Predict’

Michael Mwanza

Leave a Comment