IL &FS-All Cargo JV to enter ship building/repairs & SEZ
Ship building and repair yard along with Special Economic Zone to be set up by IL & FS and All Cargo
in the ship yard and repairs field compared to other players we will however be having world class facility and offer top quality products and services. Our ship repair facility will undertake repairs of 150 to 200 ships per annum and we plan to create a capacity to build 10 to 15 ships annually in the initial stage. At the outset we will construct smaller vessels for the offshore and coastal sector with handymax being the maximum size of the vessels.
“Along with this we are also setting up the SEZ which we would like to promote as an integrated maritime complex. We will set up a captive port inside the SEZ and are awaiting government’s approval to go ahead.”
Though it is a 50:50 joint venture partnership, in terms of role play IL &FS will mostly be looking after the technical aspects whereas All Cargo contributions will be by way of land and various territorial matters. Once the project is through the JV will bring in experts for the operational purposes.
The second phase will involve ramping up the capacity but details are still being worked out. The first phase will be completed and commissioned by FY15. Though lot of interest is being generated by the project and inquires coming in the developers prefer to wait for the project implementation to begin before booking orders. All approvals for the ship yard and ship repairs are already in place only environmental clearance is awaited to begin the work.
The multi product SEZ is expected to bring in a lot of players involved in the maritime activity. The promoters intend to throw open the SEZ for setting up power projects, engineering and heavy industries and other allied sector.