Rs 50 crore profit for Cochin Shipyard in 2006-07

Kochi, Apr 26 (UNI) The Cochin Shipyard Ltd achieved a record high of 179,000 DWT in ship-building during 2006-07, earning a net profit of Rs 50 crore on a turnover of Rs 800 crore.

A CSL release today said the public sector company surpassed the previous best of 110,206 DWT achieved in 2005-06.

The shipyard presently has an order book of 22 ships, amounting to more than Rs 2,000 crore. This is besides the prestigious Air Defence Ship contract of the Indian Navy.

Among the orders are 19 platform supply vessels for European clients. Three bulk carriers for M/s Clipper, Bahamas, are under advanced stages of construction.

The yard's proposal for a Small Ship Division has received in-principle approval of the Union Shipping Ministry and the Planning Commission, the release added.

UNI