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Govt to set up international shipyard worth up to 4k cr

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Govt to set up international shipyard worth up to 4k cr Empty Govt to set up international shipyard worth up to 4k cr




NEW DELHI: The government plans to set up a shipyard to produce large-sized vessels under public-private partnership with an investment of Rs 3,000-4,000 crore, in lieu of the Hindustan Shipyard going to the Defence ministry.

"The government will set up another shipyard, most likely on the east coast (of the country) under the the PPP mode to make VLCC and other large vessels ... the total investment will be at Rs 3,000-4,000 crore," a senior government official said.

This will be the only facility in the country after Pipavav shipyard to produce huge vessels such as very large crude carriers (VLCCs).

"The government will hold anywhere between 26-49 per cent in the project...land will be acquired (for the project) by the private developer to expedite the project," he said.

The government will appoint a consultant to work out the detailed project report and then invite bids.

"The project is likely to be awarded by February-March next year ... It will take three-five years for the shipyard to come up," he added.

The Cabinet last week approved transfer of Hindustan Shipyard Ltd from the Ministry of Shipping to the ministry of defence to meet the country's security requirements of building vessels for the Indian Navy.


Source: Times of India
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