Mumbai: India's largest private sector shipbuilder ABG Shipyard (pictured) has signed a memorandum of understanding for the acquisition of neighbouring Vipul Shipyard for an undisclosed sum. In a statement to the press Gujarat-based ABG said, "This is a strategic acquisition for ABG considering the location of Vipul, which is adjacent to the existing shipbuilding facility of ABG at Surat and is a move to augment its resources for further consolidation of shipbuilding capacity in the growing segments of offshore, coastal shipping and other avenues of shipbuilding."
The merger would boost the shipbuilding capacity at ABG's Magdalla Port yard up to 40 from its present 32 vessel capacity. The yard will absorb both the waterfront land and infrastructure currently belonging to Vipul.
ABG is capable of building vessels ranging from interceptor boats, and floating cranes to offshore supply vessels, anchor handling tug supply vessels and multi-purpose support vessels. [24/05/07]
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