Swan Defence and Heavy Industries Limited (SDHI) has announced a partnership to develop a new financing framework and strengthen its shipbuilding ecosystem. The initiative aims to enhance India’s presence in the international maritime economy.
Strategic Objectives of the Partnership
The collaboration will focus on several key areas to create a globally competitive shipbuilding ecosystem:
- Financing Framework: Plans include developing a framework for capital structure, equity, debt, and credit enhancements. This could involve partnerships with multilateral institutions, government agencies, and private investors.
- Sustainability and ESG: The partnership will emphasize sustainability and ESG (Environmental, Social, and Governance) reporting, covering emissions, safety, and labor standards.
- Economic Development: As stated by SDHI CEO Rear Admiral Vipin Kumar Saxena (retd.), the initiative seeks to generate high-value jobs and strengthen supply chains.
SDHI’s Capabilities and Role
Formerly known as Reliance Naval and Engineering Limited, SDHI is a major shipbuilding and heavy fabrication company in India. It operates one of the country’s largest dry docks, measuring 662m x 65m, and has an annual fabrication capacity of 144,000 tons. Located on the west coast of India, the company is a significant player in the country’s maritime sector, contributing to both defense readiness and commercial vessel construction.
The partnership will explore opportunities to boost vessel exports and integrate into international shipbuilding value chains. It also includes plans for industry-academia partnerships and skill development programs to cultivate a skilled maritime workforce.
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Source: CNBC TV18
