ABG to acquire Vipul

ABG Shipyard, in India, signed a memorandum of understanding (MOU) for acquisition of Vipul Shipyard, situated adjacent to the company?s existing shipyard at Magdalla Port, District-Surat, Gujarat. With this acquisition the company will add substantial land with a good water front to its resources along with slipway and other necessary plant & equipment for shipbuilding.

The acquisition would facilitate further expansion of the company?s shipbuilding activities at the Vipul site enabling it to enhance its shipbuilding capacity from the present 32 to 40 vessels on modular basis in future. ABG Shipyard is primarily engaged in manufacturing ships for commercial and government clients. Various types of ships delivered by the company include bulk carriers, deck barges, interceptor boats, anchor handling supply ships, diving support ships, tugs and offshore vessels.