The Hindu Business Line : HSL in a much better shape now, says Ajit Tewari

Visakhapatnam, Nov 27 Hindusthan Shipyard Ltd (HSL) is in a much better shape now than when he assumed charge as the Chairman and Managing Director in 2004, according to Rear-Admiral Ajit Tewari.

Rear-Admiral Tewari, retiring on Saturday, said in an interview here on Thursday that the stint at HSL had given him enormous satisfaction and HSL had at present a healthy order book, and was building bigger ships.

Launching of the biggest bulker in India from the slipways, delivery of INS Vagli submarine to the Indian Navy, repair of 6 nos oil rigs to ONGC and other companies, the repair of Sagar Ratna, a ONGC rig for Rs 400 crore, and utilisation of slipways after 10 years were some of the notable features during his tenure, he recalled.

He said the turnover had gone up from Rs 127 crore in 2002-03 to Rs 510 crore in 2007-08 and the order book position as on date was touching Rs 2,000 crore from a level of Rs 200 crore when he took over.

He said HSL would have a bright future. “I am retiring happily, having nursed the shipyard back to health. The Group of Ministers has cleared the proposal to bring HSL under the administrative control of the Ministry of Defence. The Union Cabinet may give its approval anytime,” he said.

He expressed the confidence that the economic recession would have no impact on the shipyard and it would continue to do well.

More Stories on : Shipping/Ports | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Nod for air services pact with UAE

Flight operations near normal in Mumbai

HSL in a much better shape now, says Ajit Tewari

Bangalore airport security on high alert