Titagarh Wagons starts building two vessels each for Indian Navy, NIOT

These four ships are first tenders won by the firm post its foray into ship building business

Titagarh Wagons, a flagship company of the Titagarh group, which has morphed itself from a wagon manufacturer for Indian Railways to a multinational engineering and fabrication group, gave a major boost to the Centre's Make In India campaign on Tuesday.

The company has successfully started the construction of two 1,000T Fuel Barges for the Indian Navy and two coastal Research Vessels for National Institute of Ocean Technology (NIOT). In February, the company reported at BSE and the National Stock Exchange (NSE) that it has signed the contract from NIOT, under the Ministry of Earth Sciences (MES), for design, construction and delivery of two high end coastal research vessels valued at Rs 100 Crore. In March, the company reported that it has signed the contract with Directorate of Ship Production, under the Ministry of Defence (Navy), for undertaking design, construction and delivery of two fuel barges for the Indian Navy worth Rs 75 Crore.

The ceremonial event was graced by chief Guest Madhavan Nair Rajeevan, Secretary of MES, Chairman of ESSO, Chairman of Earth Commission, Jagdish Prasad Roy Chowdhury, founder and executive Chairman of Titagarh Wagons.

J P Chowdhury said, "By entrusting the construction of these four vessels with us, the Indian Navy and NIOT have reposed great faith and trust in Titagarh Group's Capabilities." He also added in his statement that the group could be a significant part of the Make In India campaign.

These four ships are the first tenders won by Titagarh Wagons post the company's foray into ship building business.