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<h1>Memorandum of Understanding establishes a joint venture to develop shipbuilding and integrated offshore supply facilities aligned with maritime incentives.</h1> A Memorandum of Understanding between United Petro Shipping Pte Ltd and Sadhav Shipping Ltd with the Government of Odisha provides for incorporation of a joint venture to develop shipbuilding, dry dock and repair services, oil-rig repair and integrated offshore supply base facilities, intended to serve multiple vessel types and to align with maritime development initiatives and incentives including the Maritime Development Fund.