Caverton Marine Limited has announced the signing of a landmark concession agreement with Naval Dockyard Limited dwelling on the management, overhaul, and leasing of the boat building GRP (Glass Reinforced Plastic) Warehouse.
The signing ceremony, which held at the Naval Dockyard, Victoria lsland, Lagos yesterday, marked a significant advancement in the development of Nigeria's marine infrastructure.
The pivotal agreement underscores the dedication of Caverton Marine, a subsidiary of the Caverton Group, to enhancing local production capabilities for high-quality vessels, including GRP ferries, security boats, fishing vessels, and leisure crafts.
Speaking at ceremony, Admiral Superintendent of Naval Dockyard, Rear Admiral Abolaji Orederu praised the collaboration between Caverton Marine and Naval Dockyard Limited (NDL).
According to him, the collaboration has been on the front burner for the past one year, leading to the approval by the Chief of Naval Staff, Vice Admiral Emmanuel Ikechukwu Ogalla and that of the Board of Director having seen the potential of Caverton Marine's partnership with Naval Dockyard Limited.
"We are happy that this is happening under our watch. This is very historic transformative, a landmark development in the history of Naval Dockyard because we believe in capability and capacity of Caverton Marine as a company of high repute that can deliver. All over the world today, there are three things that companies prioritize if you want to move your entity forward. I call it three Cs: Collaboration, cooperation and coordination, which if combined together, it will give significant results that can't be achieved as a single entity. And that is why you see company merging, partnering and cooperating together because when you come together you are stronger," he said.
In his remarks, Chief Executive Officer of Caverton Offshore Support Group, Mr. Olabode Makanjuola, said: "Today marks a significant milestone as we celebrate the signing of a concession agreement between Caverton Marine Limited and Naval Dockyard Limited for the development of the dockyard GRP Warehouses. I want to take a moment to acknowledge the remarkable contributions of the Naval Dockyard, Nigeria's foremost ship building and repair yard, and a hub of Nacala engineering. Your tireless dedication to promoting and developing shipbuilding design and maintenance in Nigeria and across Sub-Saharan Africa is commendable and reflects a shared vision for the future of our maritime industry.
"This partnership underscores Caverton Marine's commitment to enhancing local production capabilities for high-quality vessels, including GRP ferries, security boats, fishing vessels, and leisure crafts. Our collaboration with the Naval Dockyard aims to revitalize the GRP manufacturing capacity, transforming it into a world-class facility that embraces innovative manufacturing processes and fosters capacity development and training for our workforce."
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While stating that the landmark agreement focuses on the management, overhaul, and leasing of the GRP Warehouse, Makanjuola said the initiative marks a significant advancement in Nigeria's marine infrastructure and serves as a cornerstone of the company's growth strategy.
