Cochin Shipyard rose 1.89% to Rs 329.15 after the company said it won a contract from Norway's ASKO Maritime AS for constructing two autonomous electric ferries with an option to build two more such ships.
ASKO Maritime AS is a unit of Norges Gruppen ASA, one of the largest players in the Norwegian retail segment.The 67 meter-long vessel will initially be delivered as a full-electric transport ferry, powered by 1846 kWh capacity battery. After commissioning of autonomous equipment and field trials in Norway, it will operate as a fully autonomous ferry of ASKO that can transport 16 fully loaded standard European Union trailers in one go across the fjords.
The vessels are designed by Naval Dynamics Norway using Kongsberg Maritime systems, with detailed engineering to be carried out by CSL. They will be built under DNV GL Classification and flagged in Norway, a statement from Cochin Shipyard said.
Cochin Shipyard is the largest shipbuilding and maintenance facility in India. It is part of a line of maritime-related facilities in the port-city of Kochi, in the state of Kerala, India.
As of 31 March 2020, the Government of India held 72.86% stake in the company.
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