India's state-owned Mazagon Dock Shipbuilders is planning to establish a new shipyard at Nhavam, Navi Mumbai.
"Our future growth and expansion is limited by our current infrastructure," the builder told the Securities and Exchange Board of India.
"The planned new yard will have a ship-lift, wet basin, workshops, stores and buildings and a ship-repair facility spread over an area of 40 acres which we believe will be suitable for construction and repair of warships and commercial ships with larger dimensions. We believe that the revival of our ship repair operations will result in augmentation of our revenues and profitability."
The yard currently has orders for thirteen newbuilds for the Indian Navy, including four destroyers, four stealth frigates and five submarines.
