The public sector Cochin Shipyard launched a few days ago the nineteenth of the 20 Fast Patrol Vessels (FPV) being built for Indian Coast Guard. As on date, 15 ships out of 20 have been handed over to the Indian Coast Guard. Cochin Shipyard has successfully delivered 15 ships in a span of just 25 months with an average delivery interval of 1.6 months against the contractual commitment of 3 months interval.
The last vessel of the order is to be delivered by Mar 2017 according to the contract with ICG. However, with the current pace of construction, the yard is targeting to accomplish this by mid of 2016, much ahead of schedule.
The yard also paid a dividend of Rs 16.99 crore to Government of India. The company is paying dividend for the seventh consecutive year.