The Hindu Business Line : Hindustan Shipyard revival package

VISAKHAPATNAM: The Union Ministry of Shipping has agreed to formulate and implement a revival package for the public sector Hindustan Shipyard Ltd (HSL) here, according to the Member of Parliament (Vizag), Mr N. Janardhana Reddy.

In a press release issued here, he said the Ministry had agreed to the proposal earlier this week in New Delhi. As part of the package, HSL would be provided with funds for VRS and working capital for executing the work orders on hand. The Ministry of Shipping had requested the State Government to waive the sales tax dues of Rs 45 crore to revive the yard.

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