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Indian ship breaking yards take a hit

Written by: Staff

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.


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