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IWAI orders rejuvenate 2 Bengal dry docks

Press Trust of India  |  Kolkata 

Orders from Inland Waterways Authority of (IWAI) has breathed a fresh lease of life to the two idle dry docks of Bengal, officials said.

had recently taken 74 per cent control of two dry docks of non-functional shipyards at Salkia and Nazirgunge of and (HDPE) in the city which are among the oldest in the country, in a joint venture with (KoPT).

has placed order with Cochin Shipyard for retrofitting 3 work boats (vessels) with engines capable of using methanol as fuel as part of a trial and these will happen in Kolkata, vice-chaiorman Pravir Pandey said.

Though the size of the order is just Rs 2-3 crore but that would set the motion of revival for these ailing dry docks, officials said.

They added that will place order for 20-25 ships of various cargo categories to boost cargo movement through waterways and a lot was expected to be bagged by the Cochin Shipyard.

The state-owned shipwayard has also secured 6 cargo vessels, the value of which is been worked out, Pandey said.

As per the agreement with KoPT a special purpose vehicle called Hooghly had been formed with a paid-up capital of Rs 22 crore, in which Cochin Shipyard will hold 74 per cent stake.

"has indicated an investment of Rs 130-150 crore over the next 3-5 years to revive the two shipyards against a minimum commitment of Rs 100 crore," had said earlier.

Besides earning revenue for the port, the orders will help boost employment and maritime activity in the state, a KoPT said.

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

First Published: Fri, December 07 2018. 22:12 IST