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Mess up in Sagar Samrat conversion-II: When will the vessel leave the UAE?
Jun 23: Grave doubts are being expressed by those in the industry about whether the Sagar Samrat will ever be able to leave the beleaguered UAE shipyard where it is being modified.
8It is learnt that the owners of the shipyard, Gulf Piping Company, is in such serious trouble that is is unable to pay wages.
8Strikes are unknown in the UAE but in this shipyard, workers have downed their tools several times as the management has not been able to cough up the money. The downturn in the ship construction industry has forced Gulf Piping Company into near bankruptcy. It is learnt that the UAE government has taken over some parts of the shipyard.
8ONGC is now desperately trying to egg the beleaguered shipyard to release the vessel but that seems to be turning out to be a difficult job because unless the work is completed, it cannot sail out..
8Members of the consortium of contractors do not see eye to eye any more, and the E&P major is now left holding the baby.
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