Mazagon Dock Shipbuilders puts Rs 2K-crore greenfield capex on hold

With economic disruption continuing due to the Covid-19 pandemic, Mumbai-based Mazagon Dock Shipbuilders Ltd has placed its Rs 2,000-crore greenfield capital expenditure (capex) plan on hold.

“There is no clear visibility in terms of orders and unless we have that we would not like to commit any expenditure at this juncture. So, capex at Nhava Sheva can be considered on hold,” Sanjeev Singhal, director (finance) at Mazagon Dock Shipbuilders, told Business Standard.

However, the company plans to continue with its annual maintenance capex of Rs 100 crore for FY22.

The company was planning to develop a dockyard for merchant ships on a 37-acre