Shipping company Mercator Lines and shipbuilder Mech Marine Engineers have formed a shipbuilding joint venture (JV), dubbed Mercator Mech Marine to manufacture cargo-carrying ships, reports Mint.
The proposed shipyard will cost Rs 20 billion and will be at Vansi Borsi in Gujarat. Mercator Mech has been allotted 180 acres of land by the Gujarat government for setting up the yard and the entity plans to start construction of ships in 2009. It is also scouting for suitable land for a second yard.
Mercator Lines has joined the growing list of local private firms that have entered the shipbuilding sector.
Companies such as Larsen & Toubro, SKIL Infrastructure, Good Earth Maritime, Apeejay Shipping have entered the business, joining established players including ABG Shipyard, Bharati Shipyard, Cochin Shipyard Ltd, Hindustan Shipyard, Mazagon Dock and Goa Shipyard.
The proposed shipyard will cost Rs 20 billion and will be at Vansi Borsi in Gujarat. Mercator Mech has been allotted 180 acres of land by the Gujarat government for setting up the yard and the entity plans to start construction of ships in 2009. It is also scouting for suitable land for a second yard.
Mercator Lines has joined the growing list of local private firms that have entered the shipbuilding sector.
Companies such as Larsen & Toubro, SKIL Infrastructure, Good Earth Maritime, Apeejay Shipping have entered the business, joining established players including ABG Shipyard, Bharati Shipyard, Cochin Shipyard Ltd, Hindustan Shipyard, Mazagon Dock and Goa Shipyard.