| Type | Public company |
|---|---|
| Traded as | BSE: 533107 NSE: PIPAVAVYD |
| Industry | Shipbuilding |
| Founded | 1997 |
| Headquarters | Mumbai, India |
| Key people | Jai Prakash Rai, CEO |
| Services | Ship building Ship repair |
| Revenue | 8.67 billion (US$164.73 million) (2011)[1] |
| Net income | 397 million (US$7.54 million) (2011) |
| Website | www.pipavavshipyard.com |
Pipavav Shipyard Limited (PSL) is a prominent shipbuilding company in India.
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PSL was established as a wholly owned subsidiary of SKIL Infrastructure in 1997 at Pipavav, Gujarat.[2] In 2005, with funding from major Indian financial institutions, the company was spun off and registered as Pipavav Shipyard Limited. PSL raised additional financing from a number of private equity investors in 2007. The company went public in 2009 with listings on the Bombay Stock Exchange and the National Stock Exchange.
PSL was the first corporate shipyard to be granted clearance to build warships and other vessels for the Indian Navy, though the initial licence limits this to up to 5 ships per year.
PSL is headquartered in Mumbai, Maharashtra.[3] It's yard in Pipavav, Gujarat, is one of the largest in India, spread over 500 acres (2.0 km2).[4] It has access to over 720 meters of exclusive waterfront.
PSL's dry dock was built by Mumbai based infrastructure firm, AFCONS Infrastructure Limited, under a contract worth 3.3 billion (US$62.7 million). It can accommodate ships of up to 400,000 DWT.[5]
PSL builds Very Large Crude Carriers, Capesize bulk carriers and LNG carriers.
In June 2010, PSL was awarded a 26 billion (US$494 million) contract to build five offshore patrol vessels for the Indian Navy.[6]
On 12 September 2011 it was announced that Pipavav Shipyard entered a joint venture with Mazagon Dock Limited to collaborately build warships and submarines using Pipavav's facilities. The deal will free up the congested order book of Mazagon shipyard and will give Pipavav a much needed boost in defence shipbuilding.[7]