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MoS asks Defence Ministry for Rs 1,000-1,500 cr. to transfer HSL control & assets |
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23/03/2009 |
| The Ministry of Shipping (MoS) has reportedly decided to seek Rs 1,000-1,500 crore from the Defence Ministry to transfer the administrative control and assets of Hindustan Shipyard Ltd (HSL).
But money is unlikely to change hands because such intra-governmental transfers are usually carried out by an administrative order.
Still, MoS may utilise the money to set up a new shipyard, it is understood.
MoS has commissioned Axis Bank to do the valuation of HSL. "We have to move the proposal to the Union Cabinet with the valuation," an official source explained.
The Rs 1,000-1,500 crore sought by MoS, however, excludes the cost of land as HSL is set up on leased land from the Visakhapatnam Port Trust (VPT). |
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