Hindusthan Shipyard expects work orders worth Rs 10,000 Crores


The current financial year is a crucial one for Hindusthan Shipyard Ltd (HSL) and it is expecting work orders worth Rs 10,000 crore from the Union Defence Ministry for the Indian Navy during the year, according to the Chairman and Managing Director, Rear-Admiral L V Sarat Babu.

He was speaking here on Friday after inaugurating a renovated park at the HSL employees' colony at Scindia.

The CMD said Hindusthan Shipyard was likely to get orders for fleet support vessels worth Rs 10,000 crore on a nomination basis and the order book position may touch the Rs 20,000- crore mark by the end of the year.

"Now we have instilled confidence in our customers that we can deliver the goods and in spite of the vicissitudes HSL has been passing through during the past few years, we are confident it can pull through," he said.

Rear-Admiral Sarat Babu said a submarine, INS SINDUVEER, may also come to HSL for repairs and "the proposed tie-up with Hyundai Shipyard is progressing smoothly.

It has to be worked out at two levels – at the Government level as well as shipyard-to-shipyard level. It will fructify and pave the way for transfer of technology as well as the upgrading of HSL.

"Earlier, after inaugurating the park, he exhorted the employees to work hard and unitedly for the progress of HSL and the management would take care of their welfare needs.

Source : thehindubusinessline