Cochin Shipyard planning to take over assets of other Shipyards

Posted by Daily Shipping Times on 07-07-2017        Tweet

COCHIN: Cochin Shipyard Limted (CSL), India’s profit making public sector shipyard, is looking to take over the assets of defunct shipyard Hooghly Dock and Port Engineers Limited (HDPEL) and has placed a bid under its revival plan. The move will help the shipyard enter the inland water space aggressively promoted by the Shipping Ministry to bring about prosperity in Uttar Pradesh, Bihar and Jharkhand.

We are actively looking at takeover of HDPEL’s assets through various means including forming a joint venture company, and moving strongly into the inland water space. We have bid for HDPEL’s tender for the upgradation, operation, maintenance and management of two of its shipyards at Salkia and Nazirgunge, a spokesman of the Cochin shipyard said. CSL has also signed an MoU with a “prominent player” to develop inland vessel engines.

Kolkata-based HDPEL’s Salkia and Nazirgunge shipyards are located at Howrah, West Bengal. The Indian Government had accorded in-principle approval for formation of joint venture of HDPEL with a player selected through a bidding process as part of its rehabilitation-cum-restructuring exercise.

HDPEL was set up as a private sector company in 1819, then called Hooghly Docking & Engineering Company Limited, and nationalised later in 1984. The nationalised company was run by the Ministry of Industry till 1986 and then transferred to the Ministry of Surface Transport. At present, HDPEL is under administrative control of Shipping Ministry.