Western India Shipyard bags Rs 60-cr order from Aban Offshore

Western India Shipyard today announced that it has received a major repair order worth of Rs 60 crore from Aban Offshore.

“The company has signed a major repair order with Aban Offshore for repair of ABN II, a large jack up oil rigs operating at depths of about 300 meters at an estimated value of about of Rs 60 crore,” Western India Shipyard said in a filing to the stock exchanges.

The scope of repairs will include steel renewal, pipe renewal, paint protection, supply of various machinery and equipment which will be taken up after detailed inspection and assessment on arrival of the Rig in the shipyard. The other repair orders in the shipyard are progressing smoothly, it added.

At 12.06 pm, shares in the company were up 5% at Rs 13.90 on the Bombay Stock Exchange (BSE). The trading volumes on the counter jumped almost five fold with 678,000 shares changing hands so far, as against an average 144,000 shares traded daily in past two weeks.