Gujarat government plans SPV for Alang shipyard
The Gujarat government is planning to set up a Special Purpose Vehicle to develop, maintain and operate the Alang Ship Breaking yard on a public-private partnership basis.
By PTI |
MUMBAI: The Gujarat government is planning to set up a Special Purpose Vehicle to develop, maintain and operate the Alang Ship Breaking yard on a public-private partnership basis.
The SPV would be formed after IL&FS Ecomart submits its report to the Gujarat government, IL&FS said in a statement.
IL&FS Ecomart has signed an agreement with the Gujarat Maritime Board to prepare a comprehensive master plan for Alang Shipyard.
IL&FS would come out with a development plan that would convert Alang into a commercially successful ship recycling yard, it added.
Alang would be compliant with international performance standards, and promoted as a Green Recycling Facility.
The SPV would be formed after IL&FS Ecomart submits its report to the Gujarat government, IL&FS said in a statement.
IL&FS Ecomart has signed an agreement with the Gujarat Maritime Board to prepare a comprehensive master plan for Alang Shipyard.
IL&FS would come out with a development plan that would convert Alang into a commercially successful ship recycling yard, it added.
Alang would be compliant with international performance standards, and promoted as a Green Recycling Facility.
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