Cochin Shipyard, FACT sign pact

Cochin Shipyard Ltd and FACT have signed a memorandum of agreement for joint operation of FACT Engineering Works (FEW). Based on the agreement, Cochin Shipyard will place orders for products required for the shipyard with FEW on mutually agreed terms. In turn, FEW will be developed as a support industry for Cochin Shipyard, utilising the expertise and facilities of FEW. This is intended for the formation of a joint venture company of FACT and CSL in due course. The agreement was signed at Cochin Shipyard Ltd by Mr V. Radhakrishnan, Executive Director, Cochin Shipyard, and Mr V.G. Sankaranarayanan, Technical Director, FACT, in the presence of Cmde M. Jitendran, CMD, CSL, and Dr George Sleeba, CMD, FACT.