Debt-laden ABG Shipyard which has been scouting for a strategic investor for quite sometime now is likely to get one by the end of current fiscal. ´We need an investor for our existing projects which has a working capital requirement of Rs.500-700 crore,´ Syed Abdi, MD & CEO, ABG Shipyard, told reporters on the sidelines of the Make In India event. Earlier, the company was in talks with Germany-based firm Privinvest Holding but the deal did not make much headway. ´Privinvest is more for our future projects and so I cannot say it is out of the list. We need an investor for our existing projects as well,´ Abdi said. The company is considering consortiums, along with domestic as well as overseas entities for the majority 51 per cent stake sale. With an order book of over Rs.12,000 crore, ABG Shipyard is looking to bag naval and defence orders as well.
FlashNews:
Hindalco to be a force for good with engineered solutions transformation: Kumarmangalam Birla
HSR Needs Fast Tracking
RECPDCL Handovers Ratle Kiru Power Transmission Limited, a SPV of Transmission Project, to IndiGrid 2 Private Limited
RECPDCL Handovers 3 Nos. SPVs of transmission projects viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited
Showcasing India’s Supply Chain Revolution
Highlighting the Future of Smart, Sustainable Infra
Driving Sustainability Through Innovation
REC Signs ₹18,360 Cr MoU with Govt. of Kerala for Pump Storage Projects
IIFCL Launches its Gender Equality and Social Inclusion (GESI) Cell on the occasion of International Women’s Day 2025.
IIFCL and CBI Sign Expression of Interest to promote Sustainable Infrastructure Financing in India
CCI India presents 1st edition of CEO Round Table Conference on Agriculture
Jayesh Ranjan & Cement Expo Forum Leaders converge in Hyderabad
Fluence Launches Advanced Smartstack Platform for New Energy Storage Era
NBCC inks MoU with NIT Kurukshetra valuing Rs. 300 Crore
REC Foundation Commits ₹6 Crore to Sankara Eye Hospital for Cataract Surgeries Benefiting 8,000 EWS Patients
Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam, achieves prestigious GRIHA 4-Star Rating
REC Limited Signs Agreement with CVPPL, to provide ₹2147.508 Crore Term Loan to Develop 1000MW Pakal Dul Hydro Electric Project
NBCC Reports Robust 40% Surge in Net Profit
The time to invest in India’s energy sector is now, says PM Modi
Home » ABG Shipyard may get strategic investor end March
ABG Shipyard may get strategic investor end March
Infrastructure Finance
March 1, 2016March 1, 2016

Leave a Reply
You must be logged in to post a comment.