Article Posted on : - Jul 15, 2011

VISAKHAPATNAM (PTI): Union Minister of State for Defence M M Pallam Raju Friday launched the fifth Inshore Patrol Vessel (IPV) of the Coast Guard at a function here.

The launch of the vessel, 'Rani Rashmoni', constructed by Hindustan Shipyard, is a significant step in context of security and maritime needs of the country, he said on the occasion.

The vessel has an overall length of 51.5 meters, breadth 8.36 meters, depth 4.55 meters, loaded displacement of 275 tonnes, and a crew of 35.

Raju said Hindustan Shipyard had been able to overcome its financial crisis after being taken over by the Defence Ministry in 2010.

The Defence Ministry has cleared all its over-dues and extended financial support for modernisation and investing for new technology and training to fill up the gap, making the shipyard one of the best in the country, he said.

Complimenting the shipyard for achieving milestones in production, he said the Ministry of Defence was considering placement of orders with the shipyard for construction of high value ships and submarines.

Raju said the Indian Navy, Port Trust and Coast Guard have place orders with the shipyard for its requirements.

He said the shipyard had delivered 164 vessels and repaired over 2,000 ships since its inception in 1941 and was capable of undertaking modernisation and refitting of submarines.

Chairman and Managing Director of the Shipyard, Rear Admiral (retd) K C Sekhar said the Coast Guard had placed orders for construction of five Inshore Patrol Vessels and this was the last vessel of that series.

Sekhar said the Coast Guard had also placed orders for eight Inshore Patrol Vessels in March this year.

Hindustan Shipyard had launched five vessels and achieved a record turnover of Rs 662 crore in 2009-10. It has secured orders worth Rs 800 crore in the last six months, he added.