New Delhi, Apr 10 (PTI) Energy player HMPL on Thursday said its subsidiary Square Port Shipyard has signed an agreement with Netherlands-based Damen Technical Cooperation BV to develop its shipyard and build ships to cater to the domestic and global markets.

Damen Technical Cooperation BV is a group company of Damen Shipyards Group NV with expertise is in design and construction of ships, ship components, ship repair and conversion and ship maintenance, Hazoor Multi Projects Limited (HMPL) said in a statement.

Also Read | Tahawwur Rana Extradited to India From US: From Abu Salem and Ravi Pujari to Rajiv Saxena, Here's a List of India's High-Profile Extraditions.

Square Port Shipyard has signed a Memorandum of Understanding (MoU) with Damen Technical Cooperation BV to develop its shipyard and build ships for local and international markets, it said.

Square Port Shipyard is located at Dabhol (Ratnagiri) in Maharashtra.

Also Read | What Is the Retirement Age for Judges in High Courts and Supreme Court of India?.

It also provides a broad range of associated maritime services.

"The tie up is significant milestone in our journey to be a one stop centre for clients looking for ship building and repair services in India," Fattesingh Patil, Director, Square Port Shipyards said.

Besides the energy sector, Mumbai-based HMPL provides engineering, procurement and construction services in the building road projects segments.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)