Page 4 - Shipbuilding

Titagarh Rail plans to raise up to Rs 700 cr via QIP, seeks JV partner

Engineering company Titagarh Rail Systems Ltd on Wednesday said it plans to raise up to Rs 700 crore through a Qualified Institutions Placement (QIP) and seeks a strategic partner for the shipbuilding, bridges, and defence business. In a regulatory filing, the company said proceeds from the QIP will be used to strengthen the company's position in its core businesses and to fund future growth initiatives. The company will seek the requisite approval from its shareholders for the QIP issue. Its board approved the QIP plan at its meeting and also constituted a committee for scouting a partner for the Shipbuilding, Bridges and Defence (SBD) business. Currently, wagons and rail passenger coaches are its core operation and are foraying into railway wheels through a joint venture. The company in June had also approved raising Rs 288.80 crore through preferential allotment of shares to Smallcap World Fund Inc., resulting in a 5.98 per cent stake in the wagon maker. In addition to the QIP,

Germany may ink Rs 45,000-crore deal to build submarines for India

ThyssenKrupp Marine Systems to sign pact with Mazagon Dock today

India aims to become a global hub for green shipbuilding by 2030: Sonowal

India aims to become a global hub for green shipbuilding by 2030, Minister of Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal on Wednesday said. Inaugurating India's first National Centre of Excellence in Green Port & Shipping (NCoEGPS), Sonowal further said a target has been set for the initial Green Tugs to start working in all major ports by 2025. At least 50 per cent of all the Tugs are likely to be converted into Green Tugs by 2030, which will considerably reduce emissions, as the country moves towards achieving sustainable development, an official statement quoted the minister as saying. Tugs are special boats that assist other vessels into and out of port. Green Hybrid Tugs will be powered by Green Hybrid Propulsion systems and subsequently adopting non-fossil fuel solutions like (Methanol, Ammonia, and Hydrogen). According to the statement, the country's first National Centre of Excellence in Green Port & Shipping (NCoEGPS) is the result of a collaboration ...

India to offer slew of incentives to boost shipbuilding industry: Report

The plans include subsidies so that at least 50 new vessels can be built as well as the granting of "infrastructure status" to the industry which would help with financing from banks, said the govt

India, Russia discuss collaboration in shipbuilding, inland waterways

Sonowal said that both the countries are looking at new areas of cooperation to further the bilateral relations

India has great opportunity to become 'shipbuilding hub': Rajnath Singh

Defence Minister Rajnath Singh said country has a great opportunity to become an indigenous shipbuilding hub and policies that will help the domestic industry become world-class players.

Cochin Shipyard is gearing up for strong top line in FY22: Madhu Nair

For FY22, the company said its current order book size stands at Rs 12,000 crore, which includes private, government and navy shipbuilding and ship repairs

Russian firm looks to buy Anil Ambani's Reliance Naval and Engineering

Mumbai-based Mazagon Dock Ltd (MDL) is also keen to gain access to Pipavav Shipyard, though it is not participating in the IBC process

Cochin Shipyard, Italy's Fincantieri sign deal for business development

Cochin Shipyard, with facilities on the East and West coasts of India, is a leader in commercial and defence shipbuilding and repairs.

Titagarh Wagons to bag maiden contract from Indian Navy

Its subsidiary Titagarh Firema has also secured a new contract worth about Euro 70 million for new traction and fire protection systems in the existing fleet of Italy's Trenitalia