Titagarh Naval Systems gets govt nod for Rs 610cr Falta expansion

Kolkata, Apr 6 (PTI) Titagarh Naval Systems Ltd (TNSL) on Monday said it has received in-principle approval from the Union Ministry of Ports, Shipping and Waterways for its brownfield expansion project at Falta in West Bengal.
    The proposed expansion project under the Centre’s Shipbuilding Development Scheme, involves an investment of around Rs 610 crore and is aimed at strengthening shipbuilding and maritime manufacturing capabilities in the country, according to a regulatory filing.
    Under the scheme, the government extends capital assistance of around Rs 129 crore towards eligible plant and machinery, subject to compliance with guidelines.
    The expansion is expected to enhance the shipyard’s infrastructure and technological capabilities, enabling it to cater to defence, commercial and export-oriented shipbuilding requirements, while also supporting India’s ambitions in the global maritime sector.
    Vice Chairman and MD of Titagarh Rail Systems Umesh Chowdhary said the approval reflects the government’s commitment to strengthening the domestic shipbuilding ecosystem.
    “This in-principle approval is a strong endorsement towards building a self-reliant and globally competitive maritime nation,” Chowdhary said.
    He said the proposed expansion would help develop a state-of-the-art shipyard in West Bengal, contributing to defence indigenisation and cater to domestic as well as global shipbuilding requirements.
    The project is also expected to reinforce West Bengal’s position as an emerging hub for advanced maritime manufacturing, the company said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)