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SUBSIDIARY NAME

SHIPBUILDING; SHIP REPAIR; HEAVY LIFT SYSTEM AND FLOATING DOCKS

COUNTRY

SOUTH AFRICA

SECTOR/ INDUSTRY

SHIPYARD, DOCKS

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

May 23, 2022

ACQUISITION VALUATION

TOTAL ASSET VALUATION

SHIPYARD, DOCKS, PORTS

SHIPBUILDING; SHIP REPAIR; HEAVY LIFT SYSTEM AND FLOATING DOCKS: IIB-DG acquired SHIPBUILDING; SHIP REPAIR; HEAVY LIFT SYSTEM AND FLOATING DOCKS on May 23, 2022 the project will be adding value to employment opportunities in the region of approximately 2000 employees and will assist in growth of local businesses that support the project. The project is already known on the African Continent by key stakeholders and once the project is set up, we will be building and servicing vessels that support the Naval, Ports, Oil and Gas and Commercial Maritime Operations.

The project is of key importance for the development of the Ship Building and Ship Repair industry in Africa and at present the South African Government has taken a keen interest in the commencement of the project.

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