ABG Shipyard of India bagged a Euro 16.59 million (US$21 million) order for construction of a diving support vessel, from Netherlands-based Vroon Offshore BV
Media Release
Jun. 13, 2006

ABG Shipyard Ltd, the flagship company of the ABG group, on Monday said it has bagged a Euro 16.59 million (US$21 million) order for construction of a diving support vessel, from Netherlands-based Vroon Offshore BV.

The company has bagged the Rs 980 million order for the construction of a unit of 78 meter length overall (LOA) diving support vessel, the company informed the Bombay Stock Exchange.

Another order of Euro 16.54 million ( Rs 960.2 million) for construction of another vessel is in the pipeline from the Netherlands-based company, it said.

The delivery period for the order is 24 months from the effective date of contract subject to the availability of engine and propulsion package.

As it is an export order, it is entitled for subsidy as per the prevailing shipbuilding subsidy scheme of the government.

The aggregate of the orders in hand with the company would amount to about Rs 23 billion.

The shares of the Surat-based company were trading at Rs 236, up 2.83 per cent at the BSE.

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