ABG Shipyard secures Rs1,042 cr order from overseas cos

ABG Shipyard secures Rs1,042 cr order from overseas cos

Mumbai: Private sector ship builder ABG Shipbuilder today said it has bagged orders worth Rs1,042 crore from three overseas companies based in Cyprus and Egypt.

The company has received a $34.20 million (Rs134.69 crore) repeat order from Lamnalco Ltd, Cyprus for delivery of production support vessel, ABG Shipyard informed the Bombay Stock Exchange.

The company till date has delivered seven vessels to Lamnalco and five more vessels are under construction, ABG said.

Cyprus-based Precious Shipping Public Company has placed a $184.48 million (Rs726.49 crore) order for constructing five dead weight tonne bulk carrier.

Further, ABG Shipyard said it has secured a repeat order of $46 million (Rs181.14 crore) for additional two anchor handling vessels to Egypt-based Maridive and Oil Services S.A.E.

The first order was bagged in 2003 and the company till date has delivered three vessels to Maridive & Oil Services and four vessels are under construction, it said.

Earlier on 13 December, ABG Shipyard had delivered its third Anchor Handling Tug Vessel (AHTV) to the Egyptian company. Maridive and Oil Services owns and operates 40 vessels in Egypt carrying out repair and maintenance works.

ABG, India’s largest shipyard, has delivered over 50 ships in the last five years. Post the new orders bagged by the firm, the order book position of the firm stood at Rs8,277 crore.

Shares of ABG Shipyard were trading at Rs952.90, up 0.88% in the afternoon trade on BSE.