Latest news with #VivekMerchant
Time of India
30-04-2025
- Business
- Time of India
Shipbuilding, maritime funds likely soon
The Indian government is poised to introduce a ₹18,090 crore shipbuilding financial assistance policy and a ₹25,000 crore maritime development fund (MDF). The MDF aims to boost Indian-flagged ships' share in global cargo to 20% by 2047, attracting ₹1.5 lakh-crore investments by 2030. Enhanced incentives for green shipbuilding, hybrid technologies, and large vessel manufacturing are also expected. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Economy 1. Indian authorities keen to charge merchants fees to bolster homegrown payments network, sources say The government is likely to soon roll out an enhanced shipbuilding financial assistance policy worth ₹18,090 crore and a maritime development fund (MDF) of ₹25,000 privy to the deliberations said the finance ministry's Expenditure Finance Committee (EFC) has completed appraisals for the two initiatives."This fund is expected to aid financing for ship acquisition aiming to boost Indian-flagged ships' share in the global cargo volume up to 20% by 2047," a senior official told ET. "By 2030, MDF will aim to generate up to ₹1.5 lakh-crore investments in the shipping sector."The Centre-through greater financial assistance to the shipbuilding industry-will seek to support manufacture of large vessels in the country. This will be supplemented by MDF to back upgradation of announced in Budget 2025-26, will aim to support India's maritime sector financing through equity or debt securities. The Centre will foot 49% of the total funding with the rest contributed by major port authorities and other government to Vivek Merchant, director, Swan Defence and Heavy Industries , the domestic industry is expecting greater incentives for green shipbuilding and hybrid technologies from the revamped policy."Private Indian shipyards should also get benefits for vessels supplied to Indian defence forces or exports to friendly foreign nations," Merchant MDF, a final approval to give more financial support to domestic shipbuilding is also expected soon."Incentives for manufacturing large ships, such as those for intercontinental container movement, will be approved," the official said, adding that the plan is in the final existing financial assistance policy for domestic shipyards was launched in December 2015, for shipbuilding contracts signed between April 1, 2016, and March 31, 2026. It is focused on supporting development of specialised vessels such as those for wind farm installations and those powered by green fuels."We will go well beyond the existing scheme to better prepare Indian shipbuilding for global trade," the official addition to these two initiatives, the Shipbreaking Credit note scheme is also expected soon. It will incentivise ship scrapping by issuing a credit note of 40% of the scrap value which can be reimbursed to buy new locally-manufactured ships.
Time of India
30-04-2025
- Business
- Time of India
SDHI signs strategic MoU with Wheel & Time Shipping Transport Logistics
Swan Defence and Heavy Industries Ltd ( SDHI ) has signed a strategic MoU with Wheel & Time Shipping Transport Logistics to launch a Fabrication, Assembly, Storage, and Transportation (F.A.S.T.) logistics facility at its Pipavav shipyard in Gujarat. #Pahalgam Terrorist Attack A Chinese shadow falls on Pahalgam terror attack case probe How India can use water to pressure Pakistan Buzzkill: How India can dissolve the Pakistan problem, not just swat it The 600-acre site includes a 1.2 km waterfront, dry dock, robotic steel-cutting systems, and 1,600-tonne hydraulic presses, with a fabrication capacity of 10,000 tonnes per month. The facility handles the entire value chain on-site—from material import to shipment—reducing inland transport and vendor coordination. The partnership targets sectors such as port equipment, marine infrastructure , petrochemicals , offshore EPC , and oil & gas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Actress Spills Hollywood Trick For Slim Body: "We All Do It" nutritiouslivingtips Learn More Undo Vivek Merchant, Director, SDHI, said, 'Newbuilds, ship repairs, and heavy fabrication are central to SDHI's growth plans. This partnership with Wheel & Time enhances our heavy engineering operations. The F.A.S.T. logistics ecosystem allows EPC contractors and heavy industry players to concentrate on innovation and last-mile delivery, while we manage the complexities from fabrication to transportation.' Gautamraj Sharma, MD, Wheel & Time, said, 'We believe our collaboration brings together the best of deep fabrication infrastructure and robust logistics know-how. The F.A.S.T. ecosystem will enable clients to de-risk projects and improve certainty across timelines, execution, and delivery.' Live Events
News18
30-04-2025
- Business
- News18
Swan Defence Shares Up 5% After Company Unveils Integrated Logistics Hub In Gujarat
Last Updated: Shares of Swan Defence rose 5% after signing an MoU with Wheel & Time Shipping. They launched India's first integrated F.A.S.T. logistics ecosystem in Pipavav, Gujarat. Shares of Swan Defence and Heavy Industries Limited (SDHI) gained 5 per cent on Wednesday, April 30, following a strategic Memorandum of Understanding (MoU) with Wheel & Time Shipping Transport Logistics, a specialist in moving heavy and oversized cargo. With the alliance, SDHI has launched India's first integrated F.A.S.T. (Fabrication, Assembly, Storage, and Transportation) commercial logistics ecosystem at its state-of-the-art shipyard in Pipavav, Gujarat. The scrip was trading at Rs 115.81 per share with a gain of 5 per cent at the time of writing this report. Earlier, it closed at Rs 110.30 apiece. The F.A.S.T. model offers an unmatched turnkey ecosystem for executing heavy engineering projects in India by bringing together SDHI's advanced fabrication and waterfront infrastructure and Wheel & Time's end-to-end heavy logistics capabilities. The partnership will benefit high-value, time-sensitive projects and will target clientele dealing with material handling equipment at ports, marine infrastructure, petrochemicals, offshore EPC, oil & gas infrastructure and heavy engineering. This one-of-a-kind model is designed to help companies to shorten project execution timelines, minimize handoffs, reduce overall project risks, and offer scalable solutions connected to global shipping networks. Vivek Merchant, Director, Swan Defence & Heavy Industries Limited (SDHI) described the alliance as an important step forward for India's engineering and logistics sectors. He stated, 'Newbuilds, ship repairs, and heavy fabrication are central to SDHI's growth plans. With strong capabilities in shipbuilding and repairs, this partnership with Wheel & Time Shipping Transport Logistics enhances our heavy engineering operations. Together, we can offer customers a more integrated, end-to-end solution. The F.A.S.T. logistics ecosystem allows EPC contractors and heavy industry players to concentrate on innovation and last-mile delivery, while we manage the complexities from fabrication to transportation." Spread over 600 acres with 1.2 kilometres of developed waterfront, SDHI has India's largest dry dock with a capacity to fabricate and assemble structures of 10,000 tonnes per month. The shipyard has advanced CNC (Computer Numerical Control) and robotic systems for cutting steel. It also has powerful hydraulic presses that can handle up to 1,600 tonnes for precise manufacturing. The facility also provides the capabilities to make large sections and offers specialized equipment for lifting of heavy items. From importing material to final shipment, every phase of the value chain is handled on-site, eliminating the need for inland transport and multiple vendor coordination. Through this alliance, Wheel & Time will arrange extensive fleet of heavy-lift equipment, including Self-Propelled Modular Transporters (SPMTs), Hydraulic trailers, and Marine Transport Vessels, enabling the seamless movement of over-dimensional/oversized cargo worldwide locations. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published: April 30, 2025, 11:00 IST
