Faced with cash crunch and a poor order book, the New Year may usher in good luck to Hindustan Shipyard Limited (HSL) by getting big orders worth Rs.25,000 crore.
“Things are moving in a positive direction with the decision of Defence Minister Manohar Parrikar to ensure turnaround of HSL,” Chairman and Managing Director of the shipbuilding yard Rear Admiral N.K. Mishra told The Hindu when his comments were sought on the revival efforts.
He said that the Ministry of Defence had cleared the proposal to issue Letter of Approval for construction of two Strategic Operations Vessel (SOV), each costing Rs.3,000 crore. The delivery is expected to take four years from getting the order.
The Defence Minister has also favoured giving orders for five Fleet Support Ships, each costing Rs.2,000 crore. There is also an indication that the HSL will get order for construction of two Launching Platform Decks, each with a value of Rs.4,000 crore. Ship repair orders are already on-hand.
HSL is also in the race for bagging order for construction of futuristic submarines under Project 75 (1). It has been short-listed for building six submarines with the total order of Rs.60,000 crore along with other premier shipyards.
According to indications, HSL has also proposed to take up construction of aircraft carrier if an opportunity is given to it to join a consortium so as to complete the prestigious order in association with other shipyards.
Hyundai Heavy Industries Co. Ltd has already shown keen interest to enter into a joint venture with HSL to take up construction of Fleet Support Ship for which Ministry of Defence’s clearance is awaited.
The proposal is to get HSL men trained at the Hyundai unit in Korea and construct one ship and later bring some experts from there to help HSL build five on its own as part of ‘Make in India’ campaign.
