Pipavav Shipyard bags Rs 524 cr ONGC order for 12 OSVs

India’s largest dockyard Pipavav Shipyard yesterday said that it has signed a contract with the Oil and Natural Gas Commission (ONGC) for construction and supply of 12 offshore supply vessels (OSVs) at an aggregate value of about Rs 513.83 crore ($111.849 million).

In its communiqué to the stock exchanges, Pipavav Shipyard said ONGC also reserves the right to place order for spares up to Rs 8.1 crore ($1.764 million) under the same contract.
With its focus on Oil and Gas and defence sectors, Pipavav Shipyard recently entered the capital markets.
Pipavav Shipyard has orders for 22 Panamax size bulk carriers and it has alreday commenced construction of four vessels, the first of which is expected to be delivered in April 2010, with subsequent deliveries expected to occur at intervals ranging from one to three months thereafter.
It has also submitted bids for seven naval vessels - five naval offshore patrol vessels and two cadet training ships.
The Pipavav Shipyard is located on the west coast of India adjacent to major sea lanes between the Persian Gulf and Asia. Pipavav Shipyard is capable of ship construction and repairs for a range of vessels of different sizes and types, including naval vessels and coast guard vessels, as well as the fabrication and construction of products such as offshore platforms, rigs, jackets and vessels for oil and gas companies.
The dry dock, measuring 662 meters in length and 65 meters in width, is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels including vessels catering to offshore activities such as offshore supply vessels (OSV), anchor handling tug supply vessels and multi-purpose support vessels. The Drydock is serviced by two Goliath crane each having a lifting capacity of 600 tonnes.
The Pipavav Shipyard was originally promoted by SKIL Infrastructure Limited and Grevek Investments and Finance Private Limited.  They have been joined by Punj Lloyd Limited  a leading Engineering and Construction company in India.  SKIL has a track record of promoting infrastructure projects in India, and is experienced in owner-managed construction of infrastructure projects including the Pipavav Port, which received its first vessel in 1996, the Pipavav Railway and the Pipavav Link Road.  Punj Lloyd is an engineering and offshore construction company in India providing integrated design, engineering, procurement, construction and project management services for energy and infrastructure projects.