The Cochin Shipyard (CSL) was currently constructing 20 Offshore vessels for European and American clients valued at over Rs 3,000 crore, a top official today said.
These projects are being undertaken exclusive of the Indigenous Aircraft carrier being built at the shipyard for the Indian navy, Chairman and Managing Director M Jitendran, said addressing a function to mark the naming ceremony of two vessels for a Greek shipping company, Hellespont Steamship Corporation.
Most of the business of the shipyard is for international clients. The yard imports about 70 per cent of its materials and exports 100 per cent of its vessels. If the CSL competes with 100 per cent capacity utilisation, it will continue to thrive, he said.
A small ship building division will be started in 8 months time and a drydock project had also been envisaged, feasibility study for which was going on. The yard will be in an undisputed position in India in all segments of ship-making, once the small ship building division gets started, he said.
The company was able to achieve the highest ever turnover of Rs 967 crore during 2007-08 and the profit after tax was also at the highest ever in 2007-08 at Rs 93.85 crore, he said.
At the function Delia Domingo Albert, ambassador of the Phillipines to Germany, named ship BY 64 as 'Hellespont Daring', while another ship was named 'Hellespont Dawn' by Gloria Freifrau von Olderhausen.
Chairman of Hellespont Group, Basil Papachristidis, said he looked forward to more business with the shipyard.
Christian Von Oldershausen, CEO of Hellespont Steamship Corporation, B Syed Mohammed, Customs Commissioner, were among those who spoke.