Cochin Shipyard gets Rs. 2,700 crore package.

Union shipping minister Nitin Gadkari recently announced a financial package of Rs. 2,700 crore for the development and modernisation of Cochin Shipyard Limited (CSL). While Rs. 1,200 crore would be utilised for setting up a new dry dock at the yard, an amount of Rs. 1,500 crore would go into building an LNG carrying vessel, which will be for the first time in India. As part of the 'Make in India Plan' announced by the prime minister, the government has decided to build three such vessels indigenously of which one will be constructed at CSL. Announcing the financial aid in New Delhi, he said the yard would also construct dredgers in future. Plans are afoot to build vessels for foreign companies. He also said the government had planned to connect Andaman Islands with Kochi through water bus services. The yard is in talks with global shipping lines to join hands for the construction of chartered LNG vessel. Preliminary technology talks are on between CSL and French engineering firm Gaztransport & Technigaz (GTT). The shipyard is also in discussion with Korea's Daewoo Shipbuilding & Marine Engineering Co, Samsung Heavy Industries and Hyundai Heavy Industries. Private shipyards Larsen & Toubro Shipbuilding and Pipavav Defence & Offshore Engineering are also known to be interested in securing the contract.