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Friday, July 21, 2017

Hindustan Shipyard May Get $3.1bln Order

June 26, 2017

Photo:  Hindustan Shipyard Limited

Photo: Hindustan Shipyard Limited

 India's Hindustan Shipyard Limited (HSL) has received a proposal from United Shipbuilding Corporation of Russia for a strategic partnership, The Hindu reported.

 
The report said that the Russian shipyard will be placing orders worth INR 200bln (USD 3.1bln)  immediately. 
 
The move came up for discussion when Andhra Pradesh Economic Development Board CEO J. Krishna Kishore recently met HSL Chairman and Managing Director Rear Admiral L.V. Sarat Babu. 
 
HSL was brought under the control of Ministry of Defence in February 2010 due to its strategic location in close vicinity of Eastern Naval Command headquarters and Naval Alternate Operational Base coming up at Rambilli, about 60 km from the city.
 
The report cited  Krishna Kishore saying that United Shipbuilding Corporation of Russia was very keen on collaborating with HSL. He said the Russian shipbuilder had earlier made a proposal to set up a Greenfield shipyard near Visakhapatnam.
 
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