Colonna\u2019s Shipyard to invest $70M to acquire new fourth dry dock
\n \t
\n
<\/BR>
\n
\n \t
\n
<\/BR><\/p>\n
Colonna\u2019s Shipyard Inc. (CSI), the oldest continuously operating family-owned shipyard in the United States, is to acquire of a fourth dry dock, marking a significant milestone in its long-standing commitment to supporting commercial and government customers, its dedicated workforce, and the City of Norfolk.<\/p>\n
According to company officials, the new floating dry dock represents a major company investment of over $70 million. Dry dock #4 is expected to have an approximate lifting capacity of 25,000 tons, and will be 147 feet wide and 725 feet long, positioning CSI to further enhance its capabilities in providing critical ship repair and maintenance services to a diverse range of maritime clients.<\/p>\n
The project is slated for delivery from Sedef Shipyard <\/a>in Turkey in the first half of 2028, continuing Colonna\u2019s ongoing efforts to expand and modernize its facilities to meet the growing demand for ship repair and conversion services. Over the past decade, Norfolk, Va.-based Colonna\u2019s has invested nearly $150 million in growth and innovation capacity within its U.S. facilities.<\/p>\n \u201cThis new dry dock acquisition is a testament to our continued dedication to innovation, quality service, and our steadfast investment in the future,\u201d said Randall Crutchfield,<\/a> chairman & CEO, at Colonna\u2019s Shipyard, Inc. \u201cThe expansion of our dry dock capacity will further strengthen our ability to serve both our commercial and government clients, ensuring that we can meet their ever-evolving needs with unmatched expertise and reliability. This investment is also a continued commitment to our employees and the economic vitality of Norfolk\u2019s industrial working waterfront, which has been an integral part of our success for over a century.\u201d<\/p>\n The post Colonna\u2019s Shipyard to invest $70M to acquire new fourth dry dock<\/a> appeared first on Marine Log<\/a>.<\/p>\n<\/div>\n