BL reported that Mr APVN Sharma union shipping secretary has inaugurated the small ship division fabrication shop of Cochin Shipyard Ltd as part of its expansion plan for concurrent construction of commercial ships, together with the aircraft carrier for the Indian Navy. The project which is nearing completion, involves an investment of INR 98.63crore.

Addressing the function, Mr Sharma said the proposal of the yard to raise funds through investment IPO would be considered favorably together with ESOP.

The fabrication shop is a large facility within the small ship division and can undertake around 1,000 tonnes of fabrication a month. It is serviced by three cranes, two 50 T EOT cranes and a 10 TEOT crane. The commissioning of this facility is a major step forward in completion of the small ship division project.

(Sourced from Business Line)