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ABG Shipyard signs MOU for Acquisition of Vipul Shipyard
Mumbai, May 24 (UNI) ABG Shipyard Ltd has signed a Memorandum of Understanding (MoU) for acquisition of Vipul Shipyard (Vipul) situated adjacent to the Company's existing shipyard at Magdalla Port, District-Surat, south Gujarat.
This acquisition would facilitate further expansion of the Company's shipbuilding activities at the above shipyard and would enable the Company to enhance its shipbuilding capacity from the present 32 to 40 vessels on modular basis in future. This acquisition will facilitate the optimal use of resources in the Company's existing shipyard&new facility to synergise productivity and achieve economies of scale.
On
this
occasion,
the
Company's
spokesperson
said
''This
acquisition
is
a
move
to
augment
its
resources
for
further
consolidation
of
shipbuilding
capacity
in
the
growing
segments
of
offshore,
coastal
shipping&other
avenues
of
shipbuilding.''
UNI
