Southern African Shipyards Signs MoU with Chinese Giant

zoomPrasheen Maharaj (left), CEO of Southern Africa Shipyards, seals the deal with Ye Fengsheng of China Shipbuilding Trading Company. Southern African Shipyards (SAS) has entered into a Memorandum of Understanding (MoU) with China Shipbuilding Trading Company (CSTC), a subsidiary of China State Shipbuilding Corporation. The MoU will see the largest shipyard in South Africa join forces with the largest ship building group in the world, SAS said in a release. In terms of the MoU, SAS and CSTC have committed to building a collaborative institutional relationship where we share our experience and expertise, particularly around potential projects which fall under Operation Phakisa, said SAS CEO, Prasheen Maharaj. Operation Phakisa was launched by South Africas President Jacob Zuma in 2014. One of its two key focus areas is to develop South Africa’s maritime economy in sectors such as marine transport and manufacturing and offshore oil and gas. It includes the expansion of South African port capacity for repair work for oil ships and oil rigs. China and South Africa are both members of the BRICS strategic global alliance and our MOU is a natural outcome to promote each other’s maritime interests, said Maharaj.