Indian yard boasts $1.24b order book
A new shipyard in India which is yet to be built has already received orders worth $1.24 billion from its parent company.
Reports from India suggest Vivus Global, an Australian based business group, will set up a $2.5-billion shipyard facility at Rajapur in Ratnagiri district, Maharashtra.
The facility, Rajapur Shipyards Private Limited, being built by the group's infrastructure arm, is expected to start its operations in the next 24-28 months.
It has already got orders worth $1.24 billion from its parent company.
Vivus representatives have said the facility would be the single largest foreign direct investment project in the sector and all necessary approvals from the government have been taken.
The shipyard will have two yards and can build very large bulk cargo carriers, very large crude carriers, very large gas carriers along with oil rigs and offshore drilling rigs of capacity up to 500,000-dwt.
Rajapur Shipyards will supply 16 316,000-dwt VLCC’s, with delivery of the first batch to be made by 2016.
The company said the interiors of ships will be done by Godrej, while electrical works, including supply of transformers and switchboards will be made by General Electric, Banglaore. Pipearts will undertake plumbing works.
The company, which is setting up a captive port inside Rajapur to import materials for the construction of the plant, said it was also open to offer the port facility to others.