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New Delhi, April 1 Several shipyards will receive subsidies amounting to Rs 5,100 crore over the next few years. The amount is due under the shipbuilding subsidy scheme of the Government that lapsed on August 15, 2007.

These subsidies are for orders secured before August 15, 2007, and will be disbursed to the company only after it delivers the vessel to its customers.

The domestic shipbuilding industry is now trying to secure an extension of the subsidy.

According to Mr V. Kumar, Chairman, Shipyards Association of India, “In the four years preceding to August 2007, Indian shipbuilders had received orders for 260 ships. But, since then, we have lost the cost advantage and the domestic industry has received only about 16 orders.”

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