Article Posted on : - Jul 06, 2016

A file photo.

PANAJI (PTI): Defence Minister Manohar Parrikar on Tuesday said his ministry has finalised order worth Rs 35,500 crore for Goa Shipyard Limited and expressed hope employment opportunities will be generated for local youths.

He said talks are underway to take over the Automobile Corporation of Goa Limited (a state government undertaking) by Hindustan Aeronautic Limited (HAL).

"We have finalised an order for Goa Shipyard Limited worth Rs 35,500 crore. To execute the order, there will be direct investment of Rs 4,000 crore by the Shipyard," Parrikar said at the reception function on the 60th birthday of Chief Minister Laxmikant Parsekar here.

He said the Shipyard has already began work on constructing jetties and other infrastructure which would be completed in next one-and-half years.

"Goa Shipyard will have a turnover of Rs 3,500 crore annually providing employment to 3,000 youths," he said, adding more employment opportunities will be created due to outsourcing of works by the Shipyard.

On the talks to take over the ACGL, Parrikar said, "This will bring in investment of Rs 4,000-5,000 crore and also more employment opportunities".