ABG Shipyard Signs MOU For Acquisition Of Vipul Shipyard

ABG Shipyard Ltd has informed that the Company has signed a Memorandum of Understanding (MOU) for acquisition of Vipul Shipyard (Vipul) situated adjacent to the Company''s existing shipyard at Magdalla Port, District-Surat, Gujarat.With this the Company will add substantial land with a good water front to its resources along with slipway and other necessary plant & equipment for shipbuilding.This acquisition would facilitate further expansion of the Company''s shipbuilding activities at the above shipyard and would enable the Company to enhance its shipbuilding capacity from the present 32 to 40 vessels on modular basis in future. This acquisition will facilitate the optimal use of resources in the Company''s existing shipyard & new facility to synergise productivity and achieve economies of scale.