Mumbai: India's ABG Shipyard Ltd plans to invest $100 million in setting up a factory in the western Gujarat state to make diesel engines for ships, the Mint newspaper reported on Wednesday.
ABG Shipyard, which is India's largest private-sector shipbuilder with orders worth 71.20 billion rupees, plans to enter into a technical collaboration with MAN Diesel, an arm of Germany's MAN AG , the newspaper said.
"We are finalising the details of the proposed tie-up with MAN Diesel and will make an announcement shortly," Managing Director Rishi Agarwal was quoted as saying in the report.
ABG Shipyard has been on an asset acquiring spree, buying out unlisted Vipul Shipyard and winning the bid to restructure Western India Shipyard. [1/11/07]
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