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Rs. 7,000 cr. investment for shipbuilding
Special Correspondent
NEW DELHI:
The Union Government has proposed to invest Rs. 7,195 crore in the shipbuilding sector to modernise infrastructure and the research design base so that the country can emerge as a major shipbuilding nation.
Disclosing this to the members of the Consultative Committee attached to his Ministry here on Friday, T. R. Baalu, Minister for Shipping, Road Transport and Highways, said the Government was considering a proposal to set up two international size shipyards, one on the east coast and the other on the west coast.
He said a committee had been set up to finalise the locations and prepare the documents for calling expression of interest for the purpose. The Minister said the order book position of Indian shipyards had improved from about Rs. 1,500 crore in 2002 to about Rs. 10,000 crore at present.
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