Article Posted on : - Dec 26, 2009

A file photo

NEW DELHI (BNS): Indian Defence ministry will own the Hindustan Shipyard Ltd as the government has transferred it from the shipping to fulfill countries security needs, a media report said.

Government also approved to construct a shipyard of International standards and more steps will be taken for the navy to construct its nuclear submarines, sources said.

"The government has approved transfer of Hindustan Shipyard Ltd (HSL), Visakhapatnam, to Ministry of Defence for meeting the national security requirements of building strategic vessels for Indian Navy," PTI quoted Information and Broadcasting Minister Ambika Soni as saying.

"For meeting the merchant shipping requirements of ship-building and ship repair, government has given 'in principle' approval to Ministry of Shipping for setting up of a new shipyard of international standard, “she added.

With an approx deal of Rs 1,000 crore, shipping ministry handed HSL to the Navy .

"The shipyard has work orders worth Rs 2,000 crore now, which are likely to be completed by March 2011," a top HSL official said.

According to the media , navy will find difficult to induct a fleet of nuclear submarines so soon.