La Ciotat seeks investors

Marcus Krall

 · 25.10.2017

La Ciotat seeks investors
La Ciotat seeks investors
La Ciotat Shipyards in the south of France is looking to expand. The shipyard needs new capital for one feature in particular.

The small town of La Ciotat, 30 kilometres east of Marseille, has been known for many years as a refit location for mega yachts. Monaco Marine and Composite Works are the specialists in this field. Now La Ciotat Shipyards wants to further expand its capacities and invest up to 100 million euros in the coming years. Several investors are now being sought to invest eight million euros in this equipment for 80-metre-plus yachts for the installation of a 4000-tonne lift and platform. The deadline is 2 February 2018 and construction is scheduled for the end of 2019 to the end of 2021.

La Ciotat Shipyards is owned by the French departments of Bouches-du-Rhône (50 per cent), Provence-Alpes-Côte d'Azur (25.8 per cent), Aix-Marseille-Provence (19.9 per cent) and the city of La Ciotat (4.3 per cent). Up to 2,000 people currently work at the shipyard in the high season, and this number is expected to double by 2025, with much higher demand from owners and captains.

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