The state-owned company, under the administrative control of the Ministry of Ports, Shipping and Waterways, recently emerged as the lowest bidder for a Rs 10,000-crore contract by the Indian Navy to build next generation missile vessels.
Public sector Cochin Shipyard is expected to operationalise a Rs 170 crore modern shipbuilding facility that it is building in West Bengal by June 2021.
The state-owned company, under the administrative control of the Ministry of Ports, Shipping and Waterways, recently emerged as the lowest bidder for an Rs 10,000-crore contract by the Indian Navy to build next generation missile vessels.
Cochin Shipyard Limited, through its wholly-owned subsidiary Hooghly Cochin Shipyard Limited (HCSL), is currently setting up a modern shipbuilding facility at Nazirgunge, West Bengal at an estimated project cost of Rs 169.76 crore, as per a document of the Ministry of Shipping.
“The facility is expected to be operationalised in the first quarter of the financial year 2021-22,” the document said.
HCSL targets to construct various types of vessels like Ro-Ro vessels, river-sea cargo vessels for bulk, liquids, containers, passenger vessels and other watercraft for the inland waterways.
Cochin Shipyard has also commissioned a new marine engineering training institute ”Vigyana Sagar”, which was dedicated to the nation by Prime Minister Narendra Modi on February 14, 2021.
The company recently inked a pact with Dredging Corporation and IHC Holland BV to locally build world-class dredgers in India.
Currently, India depends on foreign dredgers for dredging work worth about Rs 2,000 crore per annum.
Source: moneycontrol
