Business Standard

Mazagon Dock plans Rs 2,000 cr greenfield capex next to Nhava Sheva port

Aim is to attract third-party orders which currently stand at nil, firm is on the lookout for consultant

Mazagon
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Mazagon dock shipbuilders limited (mdl) in Mumbai | Photo: PTI

Aditi Divekar Mumbai
Mazagon Dock Shipbuilders will develop the 37-acre land it has adjacent to the Nhava Sheva port into a dockyard as the firm plans to diversify its order book, which is currently dependent on the Indian Navy.

According to a preliminary study, it would take five-seven years to build the facility at Rs 2,000 crore.

“We are in the process of hiring a consultant who can carry out the examination that is needed and commensurate with the funds required for this project,” Narayan Prasad, chairman and managing director of Mazagon Dock, told Business Standard. “The entire fund requirement, however, will not come at

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First Published: Sep 24 2020 | 8:07 PM IST

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