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BY: THE HINDU group of publications
Hindustan Shipyard Ltd here, which from this year is under the administrative control of the Ministry of Defence, will be provided additional funds
for modernisation, and a financial restructuring package is also on the anvil, according to Mr R. K Singh, Secretary of Defence Production. It will also more get more work orders on nomination basis.
He made the promises at HSL when he came here recently to participate in the inauguration of a patrol vessel, Rani Durgavati, built by the Shipyard for the Indian Coast Guard.
Mr Singh said the Ministry of Defence had great plans for HSL.
We are aware in the Ministry of the great history of this shipyard and the great difficulties it is passing through at present, in spite of having a highly skilled workforce and a great potential. We have plans to release additional funds for modernisation of the shipyard. We have also prepared a financial restructuring package and sent it for the approval of the Finance Ministry. We will ensure that enough work orders flow in on nomination basis to keep HSL fully engaged. We will make use of the shipyard and great things are in store for it. Its turnover will take a quantum jump, he promised.
However, he told HSL workers and staff that the industry was in a competitive phase and there was opposition to giving orders on a nomination basis. Therefore, it was necessary for them to stick to delivery schedules and maintain the highest standards. They should gear themselves up for the challenge.
Earlier, Commodore Naresh Kumar, Chairman and Managing Director, said HSL was ready for all challenges and wanted more orders from the Indian Navy, the Coast Guard and other defence establishments.
We can build warships, submarines and frigates. We have the skills and infrastructure here to build such vessels. We want the support of the Ministry to take the shipyard to great heights, he said. He said HSL had so far delivered 163 vessels (including 11 wellhead platforms) and it had 12 ships on hand. It had carried out repairs to 2,000 ships. It also carried out repairs to submarines. The biggest bulk carrier (53,000 dwt) built in the country was delivered to the Chennai-based Goodearth Maritime Ltd last month.
Mr Kumar said HSL would complete the orders on hand quickly, and in accordance with schedules, and it would expect a steady flow of orders from the Ministry of Defence-related organisations. We want the placement of orders now as a mobilisation period of at least a year is required to get ourselves ready to execute them. We must get the steel and other materials. We want the Ministry to ensure the work orders, he pleaded.
The estimated turnover of HSL for 2009-10 was in the range of Rs 600-650 crore, he said. However, it had not been finalised yet.
Hindustan Shipyard Ltd here, which from this year is under the administrative control of the Ministry of Defence, will be provided additional funds
for modernisation, and a financial restructuring package is also on the anvil, according to Mr R. K Singh, Secretary of Defence Production. It will also more get more work orders on nomination basis.
He made the promises at HSL when he came here recently to participate in the inauguration of a patrol vessel, Rani Durgavati, built by the Shipyard for the Indian Coast Guard.
Mr Singh said the Ministry of Defence had great plans for HSL.
We are aware in the Ministry of the great history of this shipyard and the great difficulties it is passing through at present, in spite of having a highly skilled workforce and a great potential. We have plans to release additional funds for modernisation of the shipyard. We have also prepared a financial restructuring package and sent it for the approval of the Finance Ministry. We will ensure that enough work orders flow in on nomination basis to keep HSL fully engaged. We will make use of the shipyard and great things are in store for it. Its turnover will take a quantum jump, he promised.
However, he told HSL workers and staff that the industry was in a competitive phase and there was opposition to giving orders on a nomination basis. Therefore, it was necessary for them to stick to delivery schedules and maintain the highest standards. They should gear themselves up for the challenge.
Earlier, Commodore Naresh Kumar, Chairman and Managing Director, said HSL was ready for all challenges and wanted more orders from the Indian Navy, the Coast Guard and other defence establishments.
We can build warships, submarines and frigates. We have the skills and infrastructure here to build such vessels. We want the support of the Ministry to take the shipyard to great heights, he said. He said HSL had so far delivered 163 vessels (including 11 wellhead platforms) and it had 12 ships on hand. It had carried out repairs to 2,000 ships. It also carried out repairs to submarines. The biggest bulk carrier (53,000 dwt) built in the country was delivered to the Chennai-based Goodearth Maritime Ltd last month.
Mr Kumar said HSL would complete the orders on hand quickly, and in accordance with schedules, and it would expect a steady flow of orders from the Ministry of Defence-related organisations. We want the placement of orders now as a mobilisation period of at least a year is required to get ourselves ready to execute them. We must get the steel and other materials. We want the Ministry to ensure the work orders, he pleaded.
The estimated turnover of HSL for 2009-10 was in the range of Rs 600-650 crore, he said. However, it had not been finalised yet.
