The Hindu Business Line : ABG Shipyard in pact for buying Vipul yard

ABG Shipyard has signed an MoU for acquisition of Vipul Shipyard, a closely held company, in Surat, Gujarat. The shipyard is located adjacent to ABG's shipyard in the Magdalla Port district.

Modernisation

Mr Rishi Agarwal, Managing Director of ABG Shipyard, told Business Line that the acquisition cost and the capital expenditure for modernisation of the yard put together would work out to about Rs 100 crore. He said ABG intended to add a capacity of building five to six ships a year to its overall capacity from the acquisition. ABG will be investing in modernisation of the acquired shipyard in the next three to four months, including deployment of new equipment. "With the acquisition, ABG will be adding substantial land with good water-front to its resources, along with slipway and other plant and equipment necessary for shipbuilding," Mr. Agarwal said.

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