Swan Defence and Heavy Industries Ltd to complete 5 offshore support vessels for San Maritime

Swan Defence and Heavy Industries Limited (SDHI), will complete five (5) Offshore Support Vessels (OSVs) for Kakinada based San Maritime India Pvt. Ltd. San Maritime has begun the docking of the vessels at SDHI's shipyard in Pipavav for completion under IR Class and subsequently cater to the demands of the offshore industry.

The completion of these five OSVs of San Maritime will strengthen Indian-flag tonnage & offshore capability; create maritime jobs, reinforcing the Government of India's vision of advancing indigenous self-reliant shipbuilding through targeted financial assistance and incentive schemes. The commencement of the project will support local vendors & service providers of the shipbuilding ecosystem.

The hulls were acquired by SDHI as a part of the acquisition plan of Reliance Naval and Engineering Limited (RNEL) through NCLT. The hulls were subsequently acquired by San Maritime from SDHI. While the construction of the vessels originally started during the previous regime, the revived shipyard will complete the vessels, highlighting the operational readiness and executional capabilities under the new leadership.

Located on the west coast of India, the shipyard offers unmatched shipbuilding capabilities including the country's largest dry dock (662m x 65m), wet basin (340m x60m) and 1.2km dedicated waterfront for berthing, docking, and launching of vessels.

Shares of Swan Defence And Heavy Industries Limited was last trading in BSE at Rs. 1723.90 as compared to the previous close of Rs. 1814.60. The total number of shares traded during the day was 5333 in over 230 trades.

The stock hit an intraday high of Rs. 1776.95 and intraday low of 1723.90. The net turnover during the day was Rs. 9196029.00.

Source : Equity Bulls

Keywords

SwanDefenceAndHeavyIndustries SDHI ShipBuilding INE542F01020 OffshoreSupportVessels SanMaritime