Cochin Shipyard Ltd (CSL), India’s largest largest public sector shipyard, is looking to takeover the assets of defunct shipyard Hooghly Dock and Port Engineers Ltd (HDPEL) and has placed a bid under its revival plan. The move will help CSL foray into the inland water space.

“We are actively looking at takeover of HDPEL’s assets in a different fashion, maybe looking at forming a joint venture company, but moving strongly into the inland water space. We have bid for HDPEL’s tender for the upgradation, operation, maintenance and management of two of its shipyards at Salkia and Nazirgunge,” Madhu S. Nair, Chairman and Managing Director, CSL, told BusinessLine in an interview.

CSL has also signed an MoU with a “prominent player” to develop inland vessel engines. “I can’t disclose it now,” he added.

Kolkata-based HDPEL’s Salkia and Nazirgunge shipyards are located at Howrah, West Bengal. The Indian Government had accorded in-principle approval for formation of joint venture of HDPEL with a player selected through a bidding process as part of its rehabilitation-cum-restructuring exercise.

HDPEL was set up as a private sector company in 1819, then called Hooghly Docking & Engineering Company Ltd, and nationalised later in 1984. The nationalised company was run by the Ministry of Industry till 1986 and then transferred to the Ministry of Surface Transport. At present, HDPEL is under administrative control of Ministry of Shipping.

In line with the Government’s decision, HDPEL now plans to select a suitable player, who will also be its joint venture partner.

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