Cochin Shipyard launches fast patrol vessels for Coast Guard

The public sector Cochin Shipyard Ltd has launched the nineteenth of the 20 Fast Patrol Vessels being built for Indian Coast Guard. The vessel was named “ICGS Atulya” and launched by Hema Subramaniam, wife of Commodore K. Subramaniam, Chairman & Managing Director, CSL.

As on date, 15 ships out of 20 have been handed over to the Indian Coast Guard. Cochin Shipyard has successfully delivered 15 ships in a span of just 25 months with an average delivery interval of 1.6 months, against the contractual commitment of 3 months interval.

The last vessel of the order is to be delivered by Mar 2017 as per the contract with ICG. However, with the current pace of construction, the yard is targeting to accomplish this by mid of 2016, much ahead of schedule.

The yard also paid a dividend of ₹16.99 crore to Government of India. The company is paying dividend for the seventh consecutive year, a release said.