ABG Shipyard Ltd will build two 18,800 DWT geared bulk carriers for Finland's ESL Shipping OY. Being an export order, it qualifies for subsidies as per the central government's prevailing shipbuilding subsidy scheme.
The value of each vessel, which will be 155.4 metres long with the breadth being 25.20 metres, is $30,800,000 (approximately Rs133 crore each). This takes ABG's order under execution to the aggregate of orders being executed by the Company will amount to about Rs1,600 crore
ABG will have to deliver the vessels within 28 months and 37 months respectively from the date of payment of the first instalment by ESL Shipping.