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Ved Chhabra, Chairman and Managing Director, Inter Ocean Group of Companies

Inter Ocean Group of Companies are confident pioneers of ship-building and repair in India and the UAE


Farhana Chowdhury

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Published: Wed 22 Nov 2017, 11:00 PM

Last updated: Thu 23 Nov 2017, 11:06 AM

With an inherent desire to excel, along with the ability to extend one's capability and confidence in himself, Ved Chhabra dreamed of establishing niche services in the field of ship-building and repair in the early '70s, a time when such a field was unheard of.
Chhabra began his journey by earning a marine engineering degree from the reputed marine institute DMET-Mumbai (India) in 1956, and later rose to the position of Chief Engineer by 1962.
Now leading the Inter Ocean Group of Companies as its Chairman and Managing Director, Chhabra has become an entrepreneur, who had built and exported the 'first' known sea vessel from India in the year 1976. He was further conferred the Chairmanship of Engineering Export Promotion Council, (Ship-Building Division) in the same year for his achievements.
To date, Inter Ocean Group of Companies has a presence in Mumbai (M/s Bombay Marine Engineering Works Pvt. Ltd) in India; and in Dubai (Inter Ocean Ship Repair LLC), Fujairah (International Ship Repairs FZE), and Ras Al Khaimah (EPC Emirates RAK LLC) in the UAE. The group of companies offers large, highly professional and skilled resources along with sizeable equipment and facilities to undertake repairs - on all types of ships afloat and in the dry docks.
Inter Ocean Group of Companies comprises a very strong professional team headed by the Chairman, bringing in six decades of ship repair and ship-building experience. Chhabra mentored his team to take it further technically, creating trust and confidence among clients.
"Having been entrusted to repair one of the most famous passenger ship - QE2 - is a testimony to the quality and execution, way back in 1976. And now, in UAE, all types of ship repairs are under our direct control and all specialities in house," Chhabra said.
Speaking about obstacles faced, he continued: "Since our start in Mumbai, India, dealing with regulatory authorities and negotiating the archaic labour laws regarding the retrenchment of surplus labour force were always a hindrance for the growth. Mercifully, now operating in the UAE is a win-win situation for the employees and the employer."
The group has expanded in the acquisition of nearly 700 acres of land near Mumbai (India), which is valued at about $50 million. Chhabra added that this is being vigorously pursued to become a tourist centre under the sponsorship of the Government of Maharashtra, India.
As a chosen Corporate Icon of the UAE, he concluded: "We owe our success to the infrastructure of Dubai, which is so very well-crafted under the able leadership of our ruler, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai."
Ved Chhabra has been conferred by numerous honorable awards and recognition for professional and entrepreneurial excellence:
- In 2007, he received the Lifetime Achievement Award in Dubai for his contribution to the maritime industry.
- He was conferred with DMET Alumni - UAE Business leader award in 2010.
- In May 2014, Forbes Middle East has ranked him as one of the Top Indian Business Leaders in Arab World.
- In September 2014, he was conferred Asian Leadership Award.
- In May 2015, Forbes Middle East honoured him in the business leadership in the Arab World among a list of 100 luminaries, and the only one in the category of ship building and ship repairs.
- In May 2016, Forbes Middle East has ranked him as one of the Top Indian Business Leaders in Arab World.
- In November 2016, DMET-MERI Alumni-UAE Chapter awarded him the Lifetime Achievement Award.
- In May 2017, Forbes Middle East has ranked him as one of the Top Indian Business Leaders in Arab World, thus recording this achievement four years in a row.
- Inter Ocean Group of Companies, headed by Chhabra, were the finalists for The Maritime Standard Awards 2017 in the category of Shipyard / Ship Repair Facility of the Year.
Secret to success
"To face hardships, struggle and perseverance are some of the elements that are the focal points in most successful people. I am no exception."
- farhana@khaleejtimes.com

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