Caverton Marine Limited, a subsidiary of Caverton Offshore Support Group Plc, has announced the signing of a landmark concession agreement with Naval Dockyard Limited on Tuesday, December 10, 2024. The agreement focuses on the management, revitalization, and leasing of the Glass Reinforced Plastic (GRP) Warehouse, aiming to enhance local production capabilities in shipbuilding and marine manufacturing.
The signing ceremony, held at the Naval Dockyard in Victoria Island, Lagos, signifies a major step forward for Nigeria’s maritime industry. Through this collaboration, Caverton Marine seeks to strengthen its capacity to produce high-quality vessels, including GRP ferries, security boats, fishing vessels, and leisure crafts.
Rear Admiral Abolaji Orederu, Admiral Superintendent of the Naval Dockyard, lauded the agreement as a testament to the synergy between Caverton Marine and Naval Dockyard Limited (NDL). According to him, the collaboration has been carefully developed over the past year and received approval from the Chief of Naval Staff, Vice Admiral Emmanuel Ikechukwu Ogalla, and the Caverton Group’s Board of Directors.
Mr. Olabode Makanjuola, Chief Executive Officer of Caverton Offshore Support Group Plc, highlighted the importance of the partnership during his remarks:
“Today represents a pivotal moment as we formalize this partnership with Naval Dockyard Limited to transform the GRP Warehouse into a world-class manufacturing facility. The Naval Dockyard’s legacy as Nigeria’s premier shipbuilding and repair hub aligns seamlessly with our vision to develop innovative maritime solutions and advance shipbuilding capabilities across the region.”
He further emphasized that this initiative reinforces Caverton Marine’s commitment to fostering local capacity development, workforce training, and technological advancements in the maritime sector
The revamped GRP Warehouse will play a crucial role in Caverton Marine’s strategic growth, enabling the company to execute large-scale boat-building contracts, explore new markets across Sub-Saharan Africa, and form additional strategic alliances. This agreement underscores Caverton’s dedication to contributing to the growth of Nigeria’s marine infrastructure and establishing the country as a key player in the global maritime industry.
About Caverton Offshore Support Group PLC
Caverton is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services. Caverton Marine, one of the fastest growing indigenous shipping companies commenced operations in 1999 while Caverton Helicopters a helicopter charter, sales and Maintenance Company was established in 2002. Both companies were consolidated to form Caverton Offshore Support Group on 2ndJune 2008. The group’s focus and primary business is to provide logistics and environmental support services to oil and gas fields with broader plans to support energy operations along the West African shelf as well as other ancillary support services.