The Cochin Shipyard Ltd (CSL) has incurred a loss of Rs 80 crore so far due to the strike by contract workers that has been going on for 19 days. The workers have been demanding rise in wages.
Work on the country's first indigenous Air Defence ship being built at the shipyard had also been hit due to the strike in which 2,000 workers, under the aegis of Cochin Shipyard workers union, are participating, company sources said on Saturday.
A CSL release said delayed delivery of vessels results in cost escalation and liquidated damages.
The workers, employed by 170 small and big contractors, are on strike since May 28, pressing for their demands related to wage revision and other terms and conditions of employment. The dispute is between contractors of the shipyard represented by Cochin Shipyard Contractors Federation and their workmen represented by Citu-controlled Cochin Shipyard Workers Union.