CSL ENTERS INTO MoU WITH GOI
A Memorandum of Understanding
(MoU) was signed between Ministry of Shipping, Government of India
and Cochin Shipyard Ltd. (CSL), Cochin for the year 2003-04 with
a view to have an excellent working relationship between the two.
While the Government will extend necessary support/assistance
and delegate adequate powers to ensure operational flexibility
to the yard, it will be responsible to achieve the results and
meet the targets specified in the MoU.
The CSL, it is
expected, will carry out shipbuilding and ship repairing works
to international standards and provide value added engineering
services, which of course is its mission. The MoU specifies several
objectives and most importantly to achieve shipbuilding turn-over
of Rs.123 crores, to meet ship repair turn-over of Rs.150 crores,
to commence construction of Air Defence Ship and to secure export
orders for a minimum of US$10 Million. While CSL will spare no
effort to achieve the stipulated objectives the Government will
provide the requisite support such as releasing shipbuilding subsidy
on time, facilitate as far as possible for securing ship repair/off-shore
jobs on nomination basis from Public Sector Enterprises (PSEs)
etc. The Government will delegate powers to CSL as per guidelines
to enable the shipyard to translate the target figures into reality.
The Ministry will conduct quarterly review of the performance
which the CSL will report to Government.
