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Hooghly Dock and Port Engineers DPR on revival soon

Press Trust of India  |  Kolkata 

The modernisation and renovation of two non-functional docks of the Dock and Port Engineers (HDPE) will begin soon, its said.

"The major renovation and modernisation will begin soon after the detailed project report is ready. It is expected within a month. All agreements with the Shipyards Ltd have also been signed," Balaji told

Renovation of the docks will be done under a new corporate identity -- Shipyard Ltd, a 24:76 per cent joint venture between the Dock and and the Shipyards Ltd.

Investment by the Cochin Shipyard will depend on the final DPR but in the first phase it will be at least 70-80 crore but in phases it will go up to at least Rs 130-150 crore, he said.

The will remain as a holding company with 24 per cent stake of the Hoogly Cochin Shipyard Ltd.

The has currently 43 people on its roll. Kumar said they had sent a proposal to the ministry for a special VRS scheme.

The HDPE has leased both shipyards to the SPV for an initial period of 30 years, which can be extended for another 30 years.

The ambitious National Waterways-I between and will augur well for the fortune of the HDPE docks and boost investment in West Bengal's shipping sector.

The central government's 'Vikas Project' is developing the National Waterways-I at an estimated cost of Rs 4,200 crore.

The newly formed company is expecting contracts for new low draft barges and vessels for inland waterways, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 11:55 IST