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STX wants in on India's booming yard scene

STX wants in on India's booming yard scene

Mumbai: Big name Indian shipping firms L&T, Essar, Shapoorji Pallonji, Bharti Shipyard and Korean major STX are keen on setting up two mega shipyards at a total cost of over $1.5 billion, reports India's Economic Times
The shipyards, which will come up in the west and the east coast, will each entail a minimum investment of Rs 3,000 crore. According to highly-placed government sources, L&T and STX have sought to build both the shipyards.
"A single shipyard can handle around two lakh dead weight tonnage, which is the international standard. Japan and Korea are well equipped to handle such tonnage," a senior government official said. The sites identified by the shipping ministry are Kakinada, Ennore and Tuticorn in the east coast and Mundra and Pipavav in the west coast.
L&T senior executive vice-president MV Kotwal said, "We have already shortlisted three locations. We would first set up a shipyard at one of these locations." [09/08/07]

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