Cochin Shipyard looks for 'green' avenues

State-owned Cochin Shipyard is venturing into green technologies as it looks for fresh revenues to counter a bleak outlook for the sector and increased competition from other shipyards.
Shipbuilding is expected to suffer but innovations in design and technology and diversification will be the key for good business, said Mr M. Jitendran, Chairman and Managing Director, Cochin Shipyard Ltd.
“We are the first Indian shipyard that is developing a diesel electronic propeller that has a low resistance hull. As a result, these ships will emit less greenhouse gases, have less noise and vibrations,” he told Business Line on the sidelines of SMM India 2009, a trade fair held in Mumbai.
Cochin Shipyard is focussing on the Defence sector, building dredges, offshore vessels and vessel refurbishment business as ship orders remain anaemic.
The shipyard is converting fishing vessels into seismic and research vessels. “We are also looking to design and build bridges in India,” he added. It is also planning a new dry dock, which will lead to a 50 per cent capacity expansion.
“This facility will build Defence ships, rigs and dredges. We will bring in fresh equity to fund the capital expenditure of Rs 800-1,000 crore for the dry-dock facility,” he said.
The current order book position of around Rs 3,000 crore will last up to 2012.