Acquisition of Industrial Plot by Goa Shipyard Ltd.
Goa Shipyard Limited a Premier Defence Public Sector Undertaking under Ministry of Defence and the largest exporter of warships from India, moves one step forward in its expansion path. The company has today taken over an industrial plot admeasuring 11,500 sq mts. situated within the GIDC Industrial Estate, Sancoale and has signed the Lease Deed with GIDC for long term lease of the industrial land earlier occupied by M/s. Umicore Anandeya India Private Limited. The acquisition includes the above Industrial Plot along with factory building admeasuring 4800 sq mts. and selected machineries from the above firm and has today taken possession of the same.
On the occasion, Admiral Shekhar Mital, Chairman & Managing Director has explained that GSL is already in possession of three such units in the said Industrial Estate and this is the fourth and the largest among them. Considering the present growth of GSL in the shipbuilding sector and in exports, it was necessary for GSL to enhance its infrastructure requirements, more particularly keeping in view the two major shipbuilding projects such as the MCMV & Frigates for the Indian Navy, totaling to Rs. 47000 cr approximately for which GSL has been nominated by the Navy and approved by the Defence Acquisition Council. He added that the company’s business expansion as above, will attract further new ventures in the State in the form of ancillaries. These ventures of GSL will contribute substantially to the economy of the State and also create fresh job opportunities.
CMD GSL has further said that the GSL is poised for a quantum jump in all-round performance. The Value of production is expected to touch Rs.1400 Cr in 2017-18 for the first time in the history of the shipyard, a 40% growth on previous year and the PBT is expected to touch Rs.220 Cr, thereby registering a jump of 25% compared to the previous year. The yard expects to continue the trend in the coming years on strong order book position. On commencement of construction of the major shipbuilding projects the company will have a quantum leap in all its performance parameters.
The said new unit will start functioning shortly after certain renovations/modifications in the existing building/structure.
Place: Vasco da Gama, Goa