India: Cochin Shipyard Receives MOU Excellence Award

Cochin Shipyard Ltd received the MOU Excellence Award for the year 2009-10 for its outstanding performance under the Memorandum of Understanding (MOU) entered into with the Government of India. The award was presented by the Hon’ble Prime Minister of India, Dr Manmohan Singh to Cmde K Subramaniam, CMD at a function held at Vigyan Bhavan, New Delhi on 31 January 2012.

This is the third consecutive year that the Company has received this prestigious Award.

The growth of CSL has been phenomenal in the last 5 years. The income of the Company increased from Rs 846 Crores in 2006-07 to Rs 1603 Crores in 2010-2011 and net profit increased from Rs 58 Crores to Rs 228 crores. During the same period, the company has received excellent rating consecutively in the last 4 years for its performance under the MOU with Government of India. In recognition of its performance, CSL was awarded the Category 1 Miniratna Status by Government of India in July 2008.

[mappress]
World Maritime News Staff, February 3, 2012;