In 2010, when the world's largest passenger aircraft, the Airbus A380 makes its first commercial flight from Indian soil, a similar milestone will be completed by the Indian maritime industry.
Three years from now, India is expected to join a league of nations that possess the expertise to build and repair huge ships up to 3 lakh dead weight tonnage (dwt). Currently, Indian yards can build up to 1.1 lakh dwt ships.
The shipping ministry has received 'Expressions of Interest' (EOI) from nine companies, both Indian and foreign, to set up a shipyard of international standards on the eastern coast. A similar yard is planned on the western coast for which Mumbai Port Trust has been appointed as the nodal agency.
According to officials from the Ennore Port, which is the nodal agency for the proposed yard on the eastern coast, two foreign companies and seven Indian firms have evinced interest in constructing the yard which may cost anywhere between Rs 3,000-10,000 crore.
The foreign companies include STH shipyard from Korea and McNulty Offshore Construction company of UK. From India, Larsen & Toubro (L&T), Afcons, Essar Construction, Apeejay group, Goodearth Maritime, ABG Shipyard and IMC are in the race.
Most of the local companies are planning to rope in partners for the yard. For instance Essar Constructions is planning to partner with a Russian company, Apeejay Shipping is joining hands with Bharati Shipyard and IMC is talking to its Singapore and Dubai partners.
With a coastline that stretches over 7,000 kilometres, barely 10% of the ships owned by Indian companies are built in India. As against this, China has 60 shipyards and is currently building the world's largest one near Shanghai.
But now Indian yards bursting at the seams with an order book position of Rs 15,000 crore. This is expected to surge to Rs 81,000 crore by 2018. The opportunity is already being encashed by companies like L&T, which has already gotten into the shipbuilding business.
Rahul Prasad, an analyst with i-maritime said that the response to the yard at the western coast will elicit even better response.
"As a bulk of shipping activity is centred on the ports on western coast, the proposed yard on the same coast will be preferred for repairs and other works," he said.
Three years from now, India is expected to join a league of nations that possess the expertise to build and repair huge ships up to 3 lakh dead weight tonnage (dwt). Currently, Indian yards can build up to 1.1 lakh dwt ships.
The shipping ministry has received 'Expressions of Interest' (EOI) from nine companies, both Indian and foreign, to set up a shipyard of international standards on the eastern coast. A similar yard is planned on the western coast for which Mumbai Port Trust has been appointed as the nodal agency.
According to officials from the Ennore Port, which is the nodal agency for the proposed yard on the eastern coast, two foreign companies and seven Indian firms have evinced interest in constructing the yard which may cost anywhere between Rs 3,000-10,000 crore.
The foreign companies include STH shipyard from Korea and McNulty Offshore Construction company of UK. From India, Larsen & Toubro (L&T), Afcons, Essar Construction, Apeejay group, Goodearth Maritime, ABG Shipyard and IMC are in the race.
Most of the local companies are planning to rope in partners for the yard. For instance Essar Constructions is planning to partner with a Russian company, Apeejay Shipping is joining hands with Bharati Shipyard and IMC is talking to its Singapore and Dubai partners.
With a coastline that stretches over 7,000 kilometres, barely 10% of the ships owned by Indian companies are built in India. As against this, China has 60 shipyards and is currently building the world's largest one near Shanghai.
But now Indian yards bursting at the seams with an order book position of Rs 15,000 crore. This is expected to surge to Rs 81,000 crore by 2018. The opportunity is already being encashed by companies like L&T, which has already gotten into the shipbuilding business.
Rahul Prasad, an analyst with i-maritime said that the response to the yard at the western coast will elicit even better response.
"As a bulk of shipping activity is centred on the ports on western coast, the proposed yard on the same coast will be preferred for repairs and other works," he said.