Shipbuilding orders totaling Rs 68 billion received in the last four years

As per data available in the Shipbuilding Financial Assistance Policy (SBFAP) scheme, about 88 vessel orders have been procured by 31 shipyards from domestic and export orders, worth Rs 68 billion, during the past four years. The Ministry of Ports, Shipping and Waterways introduced the SBFAP scheme for Indian shipyards to procure orders from domestic and international markets. The SBFAP guidelines have been amended to include wind farm installation vessels and the construction of sophisticated dredgers as specialised vessels eligible to get higher financial assistance. Moreover, the guidelines include financial assistance of 30 per cent for vessels where main propulsion is achieved us­ing green fuels such as methanol/ammonia/hydrogen fuel cells, and fin­ancial assistance of 20 per cent for vessels with electric means of propulsion or vessels fitted with hybrid propulsion systems.