Cochin Shipyard proposes to issue IPO to finance two major infrastructure projects
DSIJ Intelligence / 18 Jul 2017
A release by the Ministry of Shipping said that the Cochin Shipyard Limited (CSL) has embarked upon two major infrastructure expansion projects, International Ship Repair Facility at a cost of Rs 970 crore, and construction of new Dry Dock with a cost of Rs 1,799 crore.
A release by the Ministry of Shipping said that the Cochin Shipyard Limited (CSL) has embarked upon two major infrastructure expansion projects, International Ship Repair Facility at a cost of Rs 970 crore, and construction of new Dry Dock with a cost of Rs 1,799 crore. It has proposed to issue Initial Public Offer (IPO), in order to finance these projects.
The statement said that the entire proceeds of the funds raised through IPOs will be used for partial funding of the projects.
Minister of State for Shipping and Road Transport and Highways, Mansukh L Mandaviya gave this information, in a written reply to a question in the Rajya Sabha on Tuesday.
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