Indian firms to set up shipyards at Rs 10,000-cr outlay

Scarcity of bulk carriers and offshore supply vessel in the global market has forced several Indian companies to look at setting up large shipbuilding yards in the country at a total investment of Rs 10,000 crore.

HK Mittal family -- promoter of domestic shipping company Mercator is to set up two shipbuilding yards, one each in Gujarat and Maharashtra with an investment of Rs 1,500 crore. The shipbuilding yards would make specialized offshore vessels, jack-up rigs and chemical tankers, up to 75,000 dead weight tons. Besides the Mittal, engineering and construction company Larsen & Toubro, Shipping Corporation of India, SKIL Infrastructure, Good Earth Maritime, Apeejay Shipping have announced plans to enter shipbuilding. The Central Government has announced that it wants to set up two big shipbuilding yards, one in east coast and another in west coast, each attracting an investment of Rs 2,000 crore each.
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