INDIA'S ABG SHIPYARD BAGS US$136 MLN ORDER FROM SINGAPORE

Sun. June 29, 2008; Posted: 09:26 PM

MUMBAI, Jun 30, 2008 (AsiaPulse via COMTEX) -- ABSHF | Quote | Chart | News | PowerRating -- Leading private sector shipbuilder ABG Shipyard (BSE:532682) said Friday it has bagged a Rs 5.85 billion (US$136.7 million) order from Singapore-based Toisa Ltd for construction of three sub-sea multi purpose vessels.

The company has received an order for construction of three sub-sea multi purpose vessels from Sealion Shipping Ltd on behalf of Toisa Ltd having a total order size of about Rs 585 billion, ABG Shipyard said in a filing to the Bombay Stock Exchange.

With the above order, the total order book of the company stands at around 2.436 billion dollar Toisa currently operates a modern fleet of 23 vessels. Besides, Toisa has a further 12 offshore support vessels under construction which will enter its fleet in the near future.

Sealion Shipping and Toisa are engaged in specialised E&P support vessels, consultancy and technical support to the specialised marine industry.

ABG Shipyard was trading at Rs 382.50, up 2.19 per cent on the BSE in morning trade.

(PTI)

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