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ABG rigged for success

ABG rigged for success

Mumbai: Rishi Agarwal, ceo and managing director of ABG Shipyards, has announced the company's decision to set up a facility capable of building jack-up oil rigs estimated to cost between $180 ?" 200m apiece. Speaking at this week's Indian shipping Summit in Mumbai, Agarwal said that the new plant, acquired from a Canadian source, has already arrived at location in Dahej, Gujarat, and would be fully assembled and functional by the middle of next year. At present the only Indian shipyard capable of building jack-up rigs is Bharati Shipyard, although CSL (Cochin Shipyard) offers rig repair services. The new set of bids under the sixth round of India's NELP (New Exploration Licensing Policy) oil exploration programme will be announced in November which is likely to boost activity in the offshore oil sector.  [13/10/06]

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