Private sector firm ABG Shipyard will be setting up a third shipyard in Gujarat and is exploring options to raise $200 million for capacity expansion.
"Our third shipyard will come in Gujarat. We are exploring various options, including private equity to raise $200 million," ABG Shipyard CFO Dhananjay Datar said, adding the amount would be raised in this financial year.
He, however, said there is no time-frame set for the third shipyard to come up. The new shipyard would be an integrated one that can make ships up to a maximum length of 350 metres, he added.
The firm is currently concentrating on capacity expansion as Datar feels "globally the demand for ship is good." The proposed shipyard would be built over 200 acres, the biggest for ABG, he said. The company's other shipyard are in Surat and Dahej in Gujarat.
The one in Surat is spread over 35 acres and would be expanded to another 20 acres. The Dahej yard is spread over 150 acres. ABG has an order book of Rs 8,277 crore. Its shares in BSE on Friday closed at Rs 630, down 4.81 per cent.
"Our third shipyard will come in Gujarat. We are exploring various options, including private equity to raise $200 million," ABG Shipyard CFO Dhananjay Datar said, adding the amount would be raised in this financial year.
He, however, said there is no time-frame set for the third shipyard to come up. The new shipyard would be an integrated one that can make ships up to a maximum length of 350 metres, he added.
The firm is currently concentrating on capacity expansion as Datar feels "globally the demand for ship is good." The proposed shipyard would be built over 200 acres, the biggest for ABG, he said. The company's other shipyard are in Surat and Dahej in Gujarat.
The one in Surat is spread over 35 acres and would be expanded to another 20 acres. The Dahej yard is spread over 150 acres. ABG has an order book of Rs 8,277 crore. Its shares in BSE on Friday closed at Rs 630, down 4.81 per cent.