New Delhi, July 25 (IANS) A comprehensive Rs 69,725 crore package has been approved to strengthen domestic shipbuilding capacity, maritime financing and skilling as part of measures to revamp India’s shipbuilding industry, the government has said.The package includes a Shipbuilding Financial Assistance Scheme with an outlay of Rs 24,736 crore to address cost disadvantages of Indian shipyards compared to global yards, Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, said in Lo…
Latest Shipbuilding Development Scheme News & Updates
New Delhi, July 15 (IANS) The Ministry of Ports, Shipping and Waterways (MoPSW) has accorded in-principle approval to two strategic maritime infrastructure projects in Gujarat under the Shipbuilding Development Scheme (SbDS), an official statement said on Wednesday.The approved projects include a greenfield shipbuilding cluster in Porbandar district and a state-of-the-art ship repair facility at Vadinar in the Gulf of Kutch, the MoPSW said.The Ministry said the approvals are part of the governme…
New Delhi, March 14 (IANS) The government on Saturday said that under the Shipbuilding Financial Assistance Policy (SBFAP), a total of 288 contracts worth Rs 19,748 crore, covering 456 vessels, have received in-principle approval to date.Moreover, total financial assistance amounting to Rs 620.57 crore has been disbursed to 23 shipyards for the construction and delivery of 204 vessels, according to the Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal.The types of vessels cove…
New Delhi, Dec 27 (IANS) The government on Saturday notified the operational guidelines for two major shipbuilding initiatives with Rs 44,700 crore outlay, which are aimed at strengthening India’s domestic shipbuilding capacity and improving global competitiveness.Under the Shipbuilding Financial Assistance Scheme (SBFAS), which has a total corpus of Rs 24,736 crore, the government will provide financial assistance ranging from 15 per cent to 25 per cent per vessel, depending on the vessel cat…