ABG Shipyard announces profits and plans for new yard facilities

India's ABG Shipyard has recorded a huge 39 per cent annual net profit.

ABG reported an increase of US$40 million, up from US$30 million in the year ending March 2007. The Mumbai-listed shipbuilder has also recently announced plans to raise funds to add a new facility to its yard. The shipyard plans to build vessels of 350 metres in length, and to handle tonnage of around 120,000DWT and above. At the moment, the yard can build vessels up to 250 metres in length and handle tonnage up to 60,000DWT. The area available north of ABG's Shed Number 1 is to be used as an additional covered fabrication shed while Shed Number 3, which is currently being used for aluminium vessel construction, will be used for housing the CNC, shearing, rolling, bending, pressing machines. ABG said that this shift would provide block-making facilities on both sides of this shed hence improving the material flow. ABG also said that an addition Dolphin Jetty would be constructed, along with a new covered shed next to main dry dock area for construction of aluminium vessels.

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