ABG Shipyard plans Rs.5,000 crore investment in Gujarat

Mumbai: ABG Shipyard Ltd, India’s largest private shipbuilder, on Friday said it will build a shipyard in three phases along the Gujarat coastline at an estimated investment of Rs.5,000 crore.

The company submitted its proposal to the state government at the ongoing Vibrant Gujarat Global Investors Summit 2013.

This will be ABG Shipayard’s third facility in Gujarat and is likely to generate employment for about 4,500 people, the ship builder said in a statement.

Apart from the proposed investment, ABG Shipyard has also plans to expand its facilities in Dahej and Magdalla in three phases, at an estimated cost of Rs.2,000 crore.

The shipyard has so far built and delivered more than 160 ships to domestic and international customers, and holds the 61st position among the world’s shipyards, according to the Worldyards website. Starting in 2000, ABG has delivered some 54 ships, equalling approximately one ship every seven weeks, the company statement said.