ABOUT 130 people are currently working around the clock to finish a refit of the largest vessel ever seen in dry dock in Dublin.

The painters, fitters, welders, carpenters and electricians are working on the 28,000 ton Rixta Oldendorff, a Hong Kong registered bulk carrier. The £500,000 refitting contract is being carried out by Dublin Dry Docks Ltd, which was set up by Mr Peter Schmidt last August.

Mr Schmidt, who also owns a ship repair business in Dubai, said the company will have a turnover of between £6 million and £10 million in its first year of operation. Employment at the company will grow to 250 by the end of this year, and any profits are to be reinvested in refurbishing the dry dock at Alexandra Road, in Dublin.