Ruia Group ventures into shipbuilding

Jessop & Co, part of the Ruia Group in India, is planning to acquire about 1,500 acres in Haldia, West Bengal, to set up a dry dock for a ship-building and repairing project, which will involve an investment of around $260 million.

The Ruia Group decided to set up its ship building and repair project in West Bengal as it was found to be the best option. However, the limited sea-depth of only eight to nine metres is a constraining factor and the company ? which might be set up as a Special Purpose Vehicle (SPV) of Jessop and its subsidiaries ? is likely to start out building smaller ships before graduating to larger vessels.

The company already has in place technical collaborations with Ukraine?s Tekhom and Singapore?s Antarakoh and is also looking for more collaborations in specialised segments of the business.