Synopsis:
Swan Defence (SDHI) has signed a ₹4,250 crore MoU with Gujarat Maritime Board to enhance shipbuilding infrastructure, expand capacity, and develop a 200-acre Maritime Cluster and a Centre of Excellence for skill development.
The shares of the Defence company, specialising in shipbuilding, repairs, and retrofitting of commercial and defence vessels, heavy engineering, and offshore fabrication, hit a 5 percent upper circuit upon signing an MoU with Gujarat Maritime Board (GMB) to modernize India’s shipbuilding infrastructure.
With a market capitalization of Rs. 3,193.33 Crores on Monday, the shares of Swan Defence And Heavy Industries Ltd hit a 5 percent upper circuit after making a high of Rs. 606.15 compared to its previous closing price of Rs. 577.30.
What Happened
Swan Defence and Heavy Industries Ltd, engaged in shipbuilding, repairs, and retrofitting of commercial and defense vessels, heavy engineering, and offshore fabrication for the oil & gas and renewable energy sectors, has signed a landmark MoU with the Gujarat Maritime Board (GMB) for a strategic investment of ₹4,250 crore to boost India’s shipbuilding sector.
The investment will be used to expand and upgrade the shipyard infrastructure at Pipavav Port, Gujarat, which houses India’s largest dry dock capable of building vessels up to 400,000 DWT.
The Key projects include a ₹3,500 crore capacity expansion involving slipways, jetties, cranes, and dredging; a ₹200 crore Centre of Excellence to train over 1,000 youth annually and support research and development with advanced facilities; and a ₹550 crore development of a 200-acre Maritime Cluster to foster ancillary industries and boost innovation, efficiency, and trade. This partnership aims to modernize India’s maritime capabilities, strengthen domestic supply chains, and build a skilled workforce for the future.
Along with it, they also signed an MoU with Sagarmala Finance Corporation Limited (SMFCL) to jointly explore financing and support for shipbuilding projects under the Maritime-focused Equity Fund.
The partnership aims to boost new shipbuilding, repairs, and maritime infrastructure by focusing on advanced, sustainable technologies and strengthening local supply chains. They will also develop financing plans and promote global standards for sustainability and safety, aligning with India’s Maritime Vision 2030.
Swan Defence and Heavy Industries Limited (SDHI), formerly known as Reliance Naval and Engineering Limited, is a leading shipbuilding and heavy fabrication company in India. Strategically located on the west coast of India, the shipyard operates the country’s largest dry dock (662m x 65m) and has an impressive fabrication capacity of 144,000 tons per annum, providing an unmatched advantage in fulfilling India’s maritime and industrial ambitions. It is committed to innovation, excellence, safety, and sustainability.
Written by Sridhar J
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