Avanguard Shipyard Ltd. (“ASL”) is a newly formed Shipyard working under a Technical Partnership with Da Hae Marine, a firm of Marine Consultants based in South Korea, the number 1 and most advanced shipbuilding nation in the world, with the objective to cater towards the global demand for the small and medium sized ships, which has an annual value of USD 400 billion and tends to be overlooked since South Korea and China concentrate on building large vessels, as well as to serve the local demand created by the Government ’s target to spend around BDT 300,000 crore (~USD 34 billion) towards the Blue Economy by 2031. ASL has Manufacturing Franchise Agreement to construct and assemble European Dredgers at their shipyard. ASL is also working in partnership with another South Korean company, E. Astro, who are working as their Global Sales Agent.