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Hindustan Shipyard plans new giant yard

Hindustan Shipyard plans new giant yard

Mumbai: State-owned Hindustan Shipyard Ltd (HSL) plans to build a large shipyard to accommodate very large crude carrier ships (VLCC) at an estimated project cost of Rs 3,000-4,000 crore, a top official said.
The proposed shipyard, which will be built on a public-private-partnership model, is expected to receive cabinet approval by the end of this fiscal, HSL's Chairman and Managing Director, Naresh Kumar said. 'We will be building one shipyard in Orissa or Andhra Pradesh. We expect the Cabinet approval for this by the end of this fiscal,' Kumar said, adding that the shipyard is expected to get operational in three to four years. Once the project receives cabinet nod, the shipyard will start the process of inviting bidders, he said. [16/11/09]

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