Profit Making Cochin Shipyard Will Not Be Privatized: Gadkari


Profit Making Cochin Shipyard Will Not Be Privatized: Gadkari

Union minister Nitin Gadkari on Friday said the profit-making Cochin Shipyard Limited would not be privatized. There is feeling in the minds of the labor unions that we are going to privative the shipyard. That is not the idea and we will never allow any private person to take this. Because the The Cochin Shipyard (CSL) is in good profit, ‘the minister for shipping, road transport and highways said.

He was speaking after performing the ground breaking ceremony for setting up a Rs 970 crore international ship repair facility (ISRF) here. The facility is being built at Cochin Port Trust, where Cochin Shipyard Ltd has leased out 40-acres for developing the project.

The minister said the profit from the 12 major ports in the country was expected to touch Rs 7,000 crore in the next fiscal . Read More…

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