The government has identified port projects and shipping projects estimated about Rs 55,000 crore and Rs 45,000 crore respectively, to be completed by the 11th Plan period. Union Shipping Minister T R Baalu in Kochi inaugurating the Small Ship Division of the Cochin Shipyard Ltd (CSL) said that the Ministry has identified 285 port projects worth Rs 55,000 crore and 111 shipping projects worth Rs 45,000 crore, which have to be completed by the 11th plan.
The Cochin shipyard which envisages a Rs 500 crore turnover had already manufactured 23 ships at the yard and delivered and another 18 are under construction. During 2006-07, the gross income from the yard stood at Rs 770 crore, which touched Rs 967 crore this year. The yard recorded a net profit of rs 94 crore during 2007-08 against Rs 58 crore in 2006-07, thus registering a 60 per cent growth
The minister also inaugurated a state-of-the art Paint Coating shop, which enables blasting and painting in controlled atmospheric conditions, which improves the quality of the ship significantly, and a 66 KV substation. CSL Chairman M Jithendran, told reporters that the small ship building facility will be used for building commercial ships. By the end of this year, the small ship division will become operational and is expecting a Rs 500 crore turnover when it becomes fully stablised in a year’s time, he said.
Leave Your Comments