TWL was unable to participate in many tenders and with this acquisition it will be able to functionally merge its two facilities at Titagarh and Falta to cater to a much wider range of specialized ship-building activities, company managing director and CEO Umesh Chowdhary said.
Titagarh Wagons Limited (TWL) Wednesday said it has gained land and infrastructure of Precision Shipyard situated at Falta in West Bengal which will be utilized to support its ship building capacity and execute the Rs 400 crore request book. The land and facility was procured under an auction sale by Union Bank of India at an undisclosed sum. TWL will eliminate the greatest limitation that it looked of being found north of Howrah span, which was restricting both water draft and open space accessible for ships to pass under it, an authority said.,
TWL has already been building ships for the Indian Navy, National Institute of Ocean Technology and others at its shipyard located in Titagarh in the northern fringes of the city. The acquisition of the land and infrastructure of Precision Shipyard will enable it to substantially enhance its capability and capacity for the ship-building business.
The company currently has an order book for 18 ships valued at Rs 400 crore approximately and also building a fast patrol vessel for the Indian Coast Guard under contract from GRSE, its official said.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week