Goa Shipyard Ltd chairman and MD Admiral Vineet Bakshi (centre) flanked by the director of operations, Mr R Choudhan and chief general manager, Mr S A Jegaraj.
PANAJI: Sitting on order books of ` 2,000 crore, the Goa Shipyard Limited (GSL) is seeking land to build a new shipyard as part of its ambitious plan to grow by 50 per cent, and to take advantage of global shipbuilding market projected at $20 billion which is gradually shifting to India, according to senior GSL officials.
"We have approached the Goa Industrial Development Corporation for additional land for our expansion programme," GSL chairman and MD Admiral Vineet Bakshi told mediapersons at its annual conference.
In the FY 2009-10, GSL has achieved ` 866 crore in value production and earned a net profit of ` 131 crore, against the previous year’s value production of
` 508 crore and a net profit of Rs 82 crore. It gave a dividend of 90 per cent, against a 57 per cent dividend of the previous year. In taxes, GSL has disbursed over ` 50 crore.
The ageing coast guard vessels patrolling the Indian coast has fuelled demand for replacement, Mr Bakshi said. Aeronautical Development Agency, Bangalore, has assigned GSL the main integrator for the shore-based training facility (SBTF) project at INS Hansa, Goa. It is being set up with Russian equipment and technology for the first time in India to train pilots of warplanes and light combat aircrafts. Presently pilots are trained at sea. The project is scheduled to be ready by 2012.
Out of the 116 inceptor boats order from the Home Ministry, GSL has delivered 80 boats. It delivered to the Indian Coast Guard a 90-meter offshore patrol vessel, the ICGS Vishwast. The 2nd in a series of four 105-m naval offshore patrol vessel for the Indian Navy and two 90-meter offshore patrol vessels also for the Indian Navy are currently under production.
Its ambitious plans include a Middle East presence for repairs and construction of ships and to promote its entire range of products such as Damage Control Simulator, Fast Interceptor Craft, patrol vessels and offshore patrol vessels as it seeks viable tie-up with the Indian defence industries. GSL is foraying in the export markets in South Africa, Africa and South East Asia, the chairman said
The ` 800 crore infrastructure modernisation project is being implemented in four phases. The ` 400 crore phase 1 and 2 plan is under an advanced stage of implementation and involves a modern ship-lift facility for launching and docking of ships.
