India: Pipavav Shipyard Changes Its Name into Pipavav Defence and Offshore Engineering Company

Outlining its intention to become an integrated player in defence, oil and gas sectors, Pipavav Shipyard today renamed itself as Pipavav Defence and Offshore Engineering Company.

“Pipavav Shipyard changed its name to Pipavav Defence and Offshopre Engineering Company. This signifies the company”s intention to become integrated defence, oil and gas scetor company,” it said in a communique to the stock exchanges. Pipavav Shipyard started its journey in 1997 as Pipavav Ship Dismantling and Engineering. It was a wholly-owned subsidiary of SKIL Infrastructure, promoted by Nikhil Gandhi. In April, 2005, IL&FS became a shareholder and the name of the Company was changed to Pipavav Shipyard. The commercial operation of the company, which has the largest shipbuilding facility in India, started in 2009.

Pipavav Shipyard also in the communique said that it is in discussions with two international defence majors to set up production facilitiers at Pipavav for the Indian Armed forces. However, it not give any further detail.

The company said that it is in the process of bidding for two significant contracts for Indian army using its existing infratsructure capabilities.

[mappress]

Source: pipavavshipyard, June 28, 2011;