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i-maritime news letter

Titagarh Marine may get Bengal nod soon for shipbuilding project work - 2012-01-18

Titagarh Marine Ltd, a Titagarh Wagons group company, is on the threshold of obtaining exemption to the Urban Land (Ceiling and Regulation) Act, 1976 of West Bengal, for direct purchase of land at Kulpi, 55 km downstream Hooghly from the city. The group earlier sought permission from the State Government to set-up a shipbuilding yard for ocean-going vessels.

According to industry sources, Titagarh Marine's Kulpi project will be on non-agricultural land to be bought from local inhabitants. The company also has 60 acres of land at Kankinara, some 35 km upstream from Kolkata. It intends to build offshore supply vessels at this site.

Sources close to the group said that work for the detailed project report would start after the Government permission was obtained. Sources further indicated that the initial estimates for the Kulpi project were pegged at Rs 450 crore and the Kankinara project might cost around Rs 200 crore.

Source: Hindu Business Line