GAIL India will offer foreign shipbuilders five years to make liquefied natural gas (LNG) carriers in India, double the time allowed to deliver ships from their home shipyards, reports Economic Times.
Report says that the company is insisting foreign shipbuilders to build in India at least a third of the 11 LNG carriers. It also plans to charter carriers from one or more shipping lines.
GAIL hopes this concession will attract foreign firms to locally manufacture ships proposed to be chartered by the Indian gas company.
Earlier in February, GAIL had floated a tender for the purpose in February but scrapped following no response from foreign companies.
Meanwhile, Gail has asked local shipbuilders bidding for the country’s LNG carriers to take equity stakes in the three new carriers to be built indigenously under a tender for nine units, which are to be used to import LNG from the US, reports local media.
The request has been issued to Cochin Shipyard Ltd, L&T Shipbuilding Ltd, a unit of Larsen and Toubro Ltd (L&T), and Pipavav Defence and Offshore Engineering Ltd, which have been asked to take at least a 13% stake in each of the tankers, Indian newspapers Live Mint reports.
All three Indian shipbuilders have found international partners with the necessary know how on construction of these technologically-advanced ships.