< %=imgalt%>
Panchang ~ Manmohan Singh ~ Sonia Gandhi ~ Stock Markets ~ Gossip
Home / India News / 2003 / June /
RSS / Print / Comments
Related pages
Phenomenal growth of Shipping Sector in five years

Bhilai Steel for Naval Warships

Events and happenings on 18 June in History

Events in Andhra Pradesh on 18 June 2001

Events in Andhra Pradesh on 18 June 2002

Events in Andhra Pradesh on 18 June 2003

Top News

Chiranjeevi launches names his new political party - Praja Rajyam

Nuke deal will put India in league with elite nations: Sonia

Voters doubt Obamas ability to keep US safe from terrorism

Sadie Frost and 30 friends down £50k worth of Crystal champagne!

Indias Firstsource stake put on sale

Jayawardena, Yuvraj to hold media conferences in Dubai on Tuesday

Olive oil had a large number of usages in ancient Greece

Now, rubber tyres to get rid of waist tyres!
MOU between HSL and MOS
New Delhi: June 18, 2003

A Memorandum of Understanding was signed between Hindustan Shipyard Ltd., Visakhapatnam and Ministry of Shipping, Government of India for the year 2003-04 with a mission to operate a strong and efficient shipbuilding, ship repairs and Retrofitting of Submarines to meet the growing requirements of Mercantile Marine, Oil and Defence sectors. The MOU with objectives to explore new shipbuilding orders from indigenous and export market, to make efforts for ship repair facilities, rationalization of manpower etc. fixes a target of Rs.110 crore for ship repair & Retrofitting business for the year 2003-04.

The Ministry of Shipping on its part will provide assistance to the extent of securing fresh orders for shipbuilding, retrofitting of submarine and off-shore platform construction orders and maintenance activities from ONGC. The Government will also support HSL for early clearance/approval of Capital Restructuring Proposal including assistance towards working capital of Rs.47.38 crore and MAT liability of Rs.39.03 crore and interest on MAT Rs.23.90 crore. As for long term assistance it is on record that the Ministry would consider to provide adequate funds for upgradation of technology and development of human resources. In fine, HSL would furnish the Ministry the progress of performance on quarterly basis for scrutiny and review by the Government.

Press Release by: PIB/VCR/KSS-rel.18062003
Clickz..

Asuku.com
Talk about Everything and Anything...

AndhraNews.com
The Andhra Pradesh Discussion Forum

ElectionsInfo.com
Coverage on Elections round the World