 "Shipyard, Indian Navy")
Titagarh Wagons Limited (TWL) Wednesday said it has acquired land and infrastructure of Precision Shipyard located at Falta in West Bengal which will be used to boost its ship building capacity and execute the Rs 400 crore order book.
The land and facility was acquired under an auction sale by Union Bank of India at an undisclosed amount.
TWL will remove the biggest constraint that it faced of being located north of Howrah bridge, which was limiting both water draft and open space available for ships to pass under it, an official said.,
TWL was unable to participate in many tenders and with this acquisition it will be able to functionally merge its two facilities at Titagarh and Falta to cater to a much wider range of specialized ship-building activities, company managing director and CEO Umesh Chowdhary said.
TWL has already been building ships for the Indian Navy, National Institute of Ocean Technology and others at its shipyard located in Titagarh in the northern fringes of the city. The acquisition of the land and infrastructure of Precision Shipyard will enable it to substantially enhance its capability and capacity for the
ship-building business.
The company currently has an order book for 18 ships valued at Rs 400 crore approximately and also building a fast patrol vessel for the Indian Coast Guard under contract from GRSE, its official said.
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