With the Ministry of Defence deciding to bail out cash-strapped Hindustan Shipyard Limited, the largest yard on the East Coast is expected to have orders worth over Rs.25,000 crore by year-end.
Two Strategic Operations Vehicles (mini submarines) worth Rs.6,000 crore, two Landing Platform Docks, each costing Rs.4,000 crore, and five Fleet Support Ships/Tankers valued at Rs.10,000 crore are at various stages of consideration.
“Once we get the awards, it will make the yard into a beehive of activity helping us overcome the worst-ever financial problems,” HSL CMD Rear Admiral N.K. Mishra told The Hindu on Sunday.
The HSL has already formed a consortium with MIDHANI and BHEL to strengthen its claim for construction of six futuristic submarines.