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Alang Marine Ltd.

BSE: 520133 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Alang Marine Ltd. (ALANGMARINE) - Company History

Incorporated in Aug'93, Alang Marine is primarily engaged in ship repair, ship-building and ship-breaking. The company started by acquiring - the Gogha Shipyard - an existing division of Chowgule and Company which was engaged in ship building activities for a consideration of Rs 92 lac. Company is lead by Ramzanali A Asaria as chairman, Debashis Bir and Maheboob R Asaria as managing directors. In 1994, a promoter, Maheboob R Asaria, disinvested a part of his holding to get the company's shares listed on the stock exchanges. The company came out with a public issue in Jan.'96 to part-finance the expansion of its ship repair capacity. The project envisages upgradation of the company's existing slipway system by providing a synchronised ship lift docking and transfer system. The new ship repair complex will have the facility to repair ships of upto 3500 tonnes lifting capacity (TLC) or 10,000 dwt. The existing facility is suitable for ships of upto 1500 TLC or 4000 dwt. The design allows it to augment the capacity of the ship lift to 6500 TLC (equivalent to ships of upto 18,000 dwt). The slipway is primarily a 135-mtr-long, incline concrete structure with a set of rails. The ship is docked on a set of cradles and pulled up along the rails with the help of a winch.