CSL gets in-principle approval for Small Ship Division

Kochi, Jan 5 (UNI) Cochin Shipyard Limited (CSL) Chairman and Managing Director M Jitendran today said the yard has received in-principle approval for the proposed Small Ship Division.

Speaking at a function for delivery and launch of ships here, he said the yard had got in-principle Planning Commission approval to establish a separate division for construction of small ships.

The division would help the yard to bifurcate its operations.

Mr Jitendran said CSL's ship building achievement this year was likely to touch 1,49,000 DWT surpassing last year's record of 1,10,206 DWT. CSL with 1.5 times utility capacity was making giant strides in the industry.

Ship repair was also at the peak as four major upgradation were undertaken this year, he noted.

He said the yard's repair turnover was Rs 160 crore compared to the target of Rs 150 crore.

Presently the yard was constructing 14 platform supply vessels for various European clients, he said.

CSL today delivered 'Clipper Trust' the third of the six 30,000 DWT bulk carriers built for Clipper in Denmark and launched the fourth ship of the Ship 017 series.

The yard also launched a platform supply vessel for Deep Sea Supply in Norway, the third of a series of 12 such vessels for the Norwegian company.

Chief Commissioner of Income Tax C Rajendran was the chief guest.

UNI