Sonowal: Rs 68 bn shipbuilding orders in 4 years

07 Dec 2023 CW Team

Over the past four years, domestic shipyards have received orders totalling Rs 68 billion for 88 vessels, thanks to the Shipbuilding Financial Assistance Policy (SBFAP). Responding to queries in the Rajya Sabha, Sarbananda Sonowal, the Minister for Ports, Shipping and Waterways, revealed that India?s 31 shipyards have successfully delivered 69 vessels valued at Rs 11.45 billion to both domestic and international ship owners during this period, receiving financial assistance amounting to Rs 1.93 billion.

The Shipbuilding Financial Assistance Policy (SBFAP) is a scheme that provides financial support to Indian shipyards for shipbuilding contracts signed between April 1, 2016, and March 31, 2026. The rate of financial assistance started at 20% in 2016 and will gradually diminish to 11% by 2026.

The primary objective of introducing this scheme was to enhance the competitiveness of India-made ships compared to those manufactured in other countries. In May of this year, amendments were made to the guidelines of the scheme, expanding its scope to include wind farm installation vessels and the construction of sophisticated dredgers as specialised vessels eligible for higher financial assistance.

These amendments also introduced a provision for 30% financial assistance for vessels powered by green fuels such as Methanol, Ammonia, or Hydrogen fuel cells. Additionally, a separate set of changes allowed for a 20% financial assistance for vessels equipped with electric propulsion or hybrid propulsion systems.

Prior to these modifications, the scheme was already providing support for Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas carrying vessels, as well as Chemical Tankers, floating or submersible drilling or production platforms, all of which were receiving subsidies.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..