Indian ship breaking yards take a hit

Posted By:
Subscribe to Oneindia News

New Delhi, Mar 13 (UNI) The number of vessels heading for the ship breaking yards in India has shown a considerable decline.

With less than a month left before the financial year 2005-6 ends, only 111 ships have come to the yards till February compared to 256 in the previous year, Minister of State for Steel Dr Akhilesh Das told the Lok Sabha today.

According to the Iron and Steel Scrap Association of India, the ship breaking industry got Rs 737 crore during this year as against Rs 1,560 crore in 2004-5.

In 2002-3, a high 390 ships came to the yards giving them a business of Rs 2,025 crore. The figures for 2003-04 was 375 ships and a business of Rs 2,193 crore.

UNI FZ LR HT1427

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more