December 02, 2008

Pipavav Shipyard bags USD 520 million order for 12 bulk carriers

Sea King Infrastructure Ltd promoted Pipavav Shipyard has reportedly bagged the single largest order of any Indian shipyard till date worth USD 520 million. As per report, with this, Pipavav Shipyard’s order book has crossed USD 1 billion mark.

As part of the order, placed by AVIGI Shipping in association with Royal Bank of Scotland and Bank of Tokyo and Mitsubishi, the Pipavav Shipyard will build 12 super bulk carriers of 75,000 DWT each.

Pipavav shipyard located adjacent to Pipavav Port over a fully developed land area of around 175 acres, is being developed to be one of the largest such facilities in the world. It will provide all services under one roof and will be capable of constructing all types and sizes of vessels. SKIL had roped in Singapore’s SembCorp as its strategic partner for the yard. Punj Lloyd had recently announced the acquisition of 25.1% stake in the yard for INR 403 crore.