 Online edition of India's National Newspaper Saturday, Oct 23, 2010 ePaper | Mobile/PDA Version |
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15 offshore support ships for international owners Fast patrol vessels have a speed of 35 knots KOCHI: Cochin Shipyard Limited (CSL) has signed a contract for the construction of 20 fast patrol vessels for the Indian Coast Guard. Valued at Rs.1,500 crore, it is the biggest contract executed by the Coast Guard and is expected to bolster the coastal security of the country. The order, secured under severe competitions from defence and private yards, has taken the present order book position of the company to 36 ships, valued at Rs.6,000 crore. The order book includes 15 offshore support ships for various international owners. Besides, the shipyard is constructing a prestigious indigenous aircraft carrier for the Indian Navy. The fast patrol vessels have a speed of 35 knots and a length of 50 m. It is used for patrolling coastal areas and checking insurgency. Under the contract, the first ship is to be delivered in 20 months and one every three months thereafter. The shipyard has achieved a phenomenal growth in the last few years. Despite a global economic crisis, the shipyard continued to perform well in 2009-10. The profit before tax for the year improved by 34 per cent and stood at Rs.331.25 crore as against Rs.247.63 crore for the previous year. The net profit for the year 2009-10 was Rs.223 crore, an increase of 39 per cent when compared to the Rs.160 crore for the previous year. The company could achieve a total shipbuilding income of Rs.1,012 crore during 2009-10 as against Rs.986 crore during 2008-09. During 2009-10, the company delivered five offshore support ships to various international owners in Norway, Germany and the U.S. In 2010-11, the shipyard has delivered six offshore support vessels to owners in the U.S. and the Netherlands. The present contract for fast patrol vessels was signed in New Delhi on October 20, said a press release issued by the shipyard on Friday.
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