PSL executes $1.2-bn shipbuilding orders

Kochi: Pipavav Shipyard (PSL), the private sector shipyard in the country, is currently in the process of executing shipbuilding orders worth $1.2 billion for various ship owners abroad, Mr Debashis Bir, President, Shipbuilding, Pipavav Shipyard, has said.

The present order book position of the company included 22 Panamax carriers with 74,000 DWT each for Norwegian, Greek and French owners. All these ships will be ready for delivery in three years, he said.

Mr Bir, who was here in connection with a function at the Euro Tech Maritime Academy, said that PSL is currently setting up an integrated shipbuilding facility, which upon completion will be the largest in India and among the largest in Asia. The first phase of the development of the yard will be completed by the end of December at an investment of Rs 2,135 crore.

The first phase included a 660-metre drydock, which is going to be the largest in the country. An equal amount will be invested by the company in the next phase of expansion, he added. It is planned that the first phase of the company’s expansion will be augmented with the addition of a ship lift facility with land berths which will cater to the construction of small to medium sized ships and heavy lift barges, both merchant and defence. This facility can also be used for ship repair, he said.

India being located close to the international maritime sea route offers immense potential for shipbuilding and repairs. The country is emerging as a good market and there are about 8 mega-size shipyards coming up in the private sector, Mr Bir said.

PSL, he said, is keen to participate in the tenders to be floated by the Indian Navy for the construction of defence ships, as the production of battle ships is likely to double in the next few years following the Government’s decision to enhance the defence capability.

Likewise, the size of Indian fleets is likely to triple in the next two years in view of the growth in cargo movement, which, at present, is 730 million tonnes.

He also pointed out that Indian ship owners are likely to invest $20 billion in the next five years for fleet expansion. To finance the activities, many foreign companies have set up offices in India. Given the situation, he said India should gear up to meet the emerging situation on account of its competitive edge in pricing, labour costs and engineering proficiency, he added.