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ABG Shipyard wins Rs 500-cr SCI order

Thursday, 02 February 2012 | 13:04
ABG Shipyard, the flagship firm of ABG Group, has bagged an order worth Rs 500 crore from Shipping Corporation of India (SCI) for construction of six new vessels.
“The company has received an order for construction of six numbers of Bollard Pull AHTS Vessels from SCI,” the country’s largest private shipbuilder said in a filing to the BSE.
The company said the price of the vessels is $101.40 million (about Rs 500 crore) and they will be delivered in a timeframe of 15 to 25 months from the date of signing the contract, with a gap of two months for each vessel.
The orders, an SCI official said, are a part of the state-owned firm’s plans to acquire 24 vessels.
SCI currently has 81 vessels with a DWT (deadweight tonnage) of 5.82 million tonnes and an average age of 14 years. The company aims to augment the fleet size to 93 vessels with a cumulative DWT of 6.17 mt.
Shares of ABG Shipyard were being quoted at Rs 406.00 apiece in the afternoon trade on the BSE, up 5.10 per cent from their previous close.
Source: PTI
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