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ABG Shipyard Secured Order Worth $46 Mn From Maridive Egypt

12-18-2007

ABG Shipyard said it has secured a repeat order of US 46 million dollar (Rs 181.14 crore) for additional two anchor handling vessels to Egypt-based Maridive and Oil Services S.A.E.

The first order was bagged in 2003 and the company till date has delivered three vessels to Maridive & Oil Services and four vessels are under construction, it said.

Earlier on December 13, ABG Shipyard had delivered its third Anchor Handling Tug Vessel (AHTV) to the Egyptian company. Maridive and Oil Services owns and operates 40 vessels in Egypt carrying out repair and maintenance works.

ABG, India's largest shipyard, has delivered over 50 ships in the last five years. Post the new orders bagged by the firm, the order book position of the firm stood at Rs 8,277 crore.

Further, the company has received a $34.20 millionr (Rs 134.69 crore) repeat order from Lamnalco Ltd, Cyprus for delivery of production support vessel,

The company till date has delivered seven vessels to Lamnalco and five more vessels are under construction, ABG said.

Cyprus-based Precious Shipping Public Company has placed a US 184.48 million dollar (Rs 726.49 crore) order for constructing five dead weight tonne bulk carrier.