Titagarh Wagons launches first vessel for Indian Navy
As a part of Government of India’s ‘Make in India’ initiative, Titagarh Wagons Limited is set to provide four vessels, two each for the Indian Navy and Ministry of Earth Sciences, respectively. The company has been successful in launching the first of the four vessels.
This newly launched ship Fuel Barge 14 has been specifically designed for carrying fuel mid-sea to Indian Navy’s flagship aircraft carrier INS Vikramaditya. The vessel is set to undergo various machinery and speed trials after which they will depart for Mumbai Dockyard of Indian Navy for delivery.
On May 9, 2017, the company had begun the construction of two 1000T fuel barges for the Indian Navy and two coastal Research Vessels for the National Institute of Ocean Technology which is under the Ministry of Earth Sciences, Government of India. The construction work was carried out near Kolkata.
With this, Titagarh Wagons has become the first private sector company from West Bengal to launch a ship for the Indian Navy. This launch of the first vessel has been ahead of its contractual schedule. The second vessel is scheduled for a launch in July 2018. It has already obtained new orders from Government of West Bengal to build small boats and has participated in various other tenders.
Titagarh Wagons is well-known for manufacturing wagons and coaches for the Indian Railways and has now gradually transformed to a multinational diversified engineering and fabrication company.
On Friday, in the morning trading session, the stock surged by 2.85 per cent and has made intraday high of Rs 111.95 per share. On Thursday, it had closed at Rs 108.85.