Western India Shipyard redelivers first of 3 Rig repair orders

Western India Shipyard Ltd has announced that the Company has redelivered the first of the 3 Rig repair orders received from Transocean Offshore International Ventures Ltd of Mumbai, one of the largest Rig Operators in India, namely JUR Trident 12 within time after repairs at the Company's yard at Mormugao Harbor, Mormugao, Goa. The next two Oil Rigs namely, JUR RON TAPPMEYER and JUR RANDOLPH YOST have also arrived and are presently undergoing repairs at the shipyard. These too involve major repairs and will be redelivered during the current financial year ending March 31, 2007. The Company's shiprepair business is progressing smoothly at the same yard.

As regards its shipbuilding division, the construction of the Jack Up Barge 'PMC —1' values at Rs 18.81 crore at the yard for PMC Projects India Pvt Ltd, is proceeding smoothly. The vessel is expected to be delivered during the current financial year too.

Source : Equity Bulls

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