Swan's Shipyard resumes operations, Successfully Repairs an Indian Coast Guard Vessel

Swan Energy Limited (SEL), a leading global conglomerate with diversified interests in Textile, Real Estate, Oil & Gas and Shipbuilding and Heavy Engineering, is pleased to announce the resumption of operations at its Shipyard ('Reliance Naval and Engineering Limited or RNEL').

Swan's shipyard has commenced refit of ships at its establishment. Indian Coast Guard's fast patrol vessel, Raj Ratan, is the first repair project, which began on 4th September, 2024. The project has been completed ahead of schedule, on 30th November, 2024. The refit was executed in association with Sadhav Offshore Engineering Pvt. Ltd.

The dry docking and refit of this ship marks a significant milestone in the revival of the Shipyard, after SEL took over its management control earlier this year through NCLT. As part of the comprehensive refit of the ICG vessel, Swan's shipyard provided end to end services, including berthing and dry docking, along with critical yard services essential for the vessel's overhaul. Swan's Shipyard is also gearing up to commence its shipbuilding operations at the facility.

Mr. Vivek Merchant, Director of Swan's Shipyard, said "The resumption of operations at our shipyard marks the successful culmination of our dedicated efforts to rejuvenate this strategic facility. Delivering our first Indian Coast Guard vessel underscores our commitment to enhancing India's ship repair and shipbuilding capabilities. Our vision is to establish our shipyard as a leading maritime hub for the manufacturing of defence and commercial ships, and for the heavy engineering sector, on a global scale.

Swan's Shipyard boasts the largest dry dock in India, and one of the largest in the world, measuring 662 meters by 65 meters. The dry dock is equipped with a 600-tonne SWL goliath crane. The shipyard also features modern fabrication, piping and painting facilities with a capacity of 12,000 tons per month. Other facilities include a preerection berth that is 980 meters long and 40 meters wide for assembling mega blocks, a 350-meter-long, dual berthing quay for afloat fit-out and commissioning of ships.

Shares of Swan Energy Limited was last trading in BSE at Rs. 610.90 as compared to the previous close of Rs. 615.00. The total number of shares traded during the day was 97837 in over 2392 trades.

The stock hit an intraday high of Rs. 620.60 and intraday low of 608.00. The net turnover during the day was Rs. 60010102.00.

Source : Equity Bulls

Keywords

SwanEnergy INE665A01038 ShipyardOperations Resumption IndianCoastGuardVessel