Goa Investment Board gives nod for new ship equipment unit

PANAJI: The Goa Investment Promotion Board has cleared a proposal for setting up of a new unit for manufacturing of ship equipments for construction of defence vessels in the state.

Geeta Engineering Works Private Limited had moved the proposal before the Investment Promotion Board which met under chairmanship of Chief Minister Laxmikant Parsekar yesterday.

The company has already acquired two plots at Panchwadi and Tuem Industrial Estates in South and North Goa respectively.

In the proposal submitted to Investment Promotion Board, the company intends to manufacture deck machinery, hydraulic steering gear, propeller, stern gear, rudder and others.

"These are the equipments used for building of new defence vessels constructed at various defence ship building yards in the country like Goa Shipyard, Mazgaon Dock, Garden Reach Shipbuilders and Engineers besides others," the company has said.

"The Board approved the project for the company which will bring in investment of Rs 3 crore and employment to 50 people," a senior investment promotion board official said.