French, Korean firms ink pact with India to build LNG carriers

France-based engineering firm GTT and a Korean company have signed a pact with Cochin Shipyard to build LNG carriers, Parliament was informed today.
Besides under 'Make in India', government has initiated plans to set up an International Ship Repair Facility (ISRF) in the Cochin Port Trust land, besides having a new dry dock project within the Cochin Shipyard, Minister of State for Shipping P Radhakrishnan said in a written reply to the Lok Sabha.
The Shipping Ministry has asked the Ministry of Defence to place defence shipbuilding orders with the Cochin Shipyard Ltd (CSL) apart from placing orders with private shipyards, he added.

"CSL, Kochi, has signed an agreement with a Korean firm and GTT, France to build Liquefied Natural Gas (LNG) carriers in the country," Radhakrishnan informed the House.
GTT's (Gaztransport & Technigaz) main areas of expertise include cargo containment systems (CCS) for LNG carriers and land storage of LNG.
In reply to a separate query, the Minister said at the end of 2013-14, Indian ship building firms had orders of 350 ships with DWT (dead weight tonnage) of over 27.41 lakh tonnes.

"Of these orders for 350 ships, 101 are in public sector yards and 249 are in private sector yards amounting to 86,500 tonnes and 26.54 lakh tonnes DWT (dead weight), respectively," Radhakrishnan added.

Promotion of shipbuilding industry is a key component of the 'Make in India' initiative of the government, he said.
Suggestions to the government for the promotion of local shipbuilding include measures for financial assistance, grant of infrastructure status, domestic eligibility criteria, tax incentives and special dispensation for stressed shipyards, Radhakrishnan added.