BIZ-SHIPYARD

HCSL begins construction of new yard
    Kolkata, Feb 16 (PTI) Moving ahead with revival plans
for the city-based Hooghly Dock & Port Engineers Ltd, the
Hooghly Cochin Shipyard Limited (HCSL) Saturday kicked-off the
construction of a new yard at Nazirgunge dock.
    "The ground-breaking ceremony of the construction of
the new yard at HCSL was performed by Cochin Shipyard Ltd CMD
Madhu S Nair at Nazirgunge dock in the presence of KoPT
chairman, Vinit Kumar and deputy chairman of KoPT S Balaji
Arunkumar," a statement said.
    HCSL is a joint venture between Cochin Shipyard Ltd
and Hooghly Dock & Port Engineers Limited with in a 74:26
ratio.
    HCSL intends to set up a modern shipbuilding and ship
repair facility at Nazirgunge and Salkia sites.
    The project is expected to be completed in 24 months
and the units will be fully operational by the first quarter
of 2021.
    CSL is a leader in shipbuilding and ship repair in
India and KoPT had partnered with them to revive the closed
shipyard.
    With the revival of inland waterways on NW-I and
NW-II, demand for cargo barges is expected to rise. Inland
Waterways Authority of India themselves is in the process to
order Rs 2,000 crore worth of cargo vessels and HSCL expects
to get a sizeable pie of the same. PTI BSM
JM JM