Press Information Bureau
Government of India
Ministry of Defence
21-December-2011 15:05 IST
Revival Package of Hindustan Shipyard Limited
The Government of Andhra Pradesh had requested the Ministry of Shipping in 2004-05 to provide rehabilitation-cum-revival package to Hindustan Shipyard Limited (HSL), Visakhapatnam which includes liquidation of outstanding loans, dues and critical investment.

The Government has approved the financial restructuring proposal of HSL for an amount of Rs.824.90 crores in November, 2010.

HSL was transferred from Ministry of Shipping to Ministry of Defence in February, 2010. Thereafter in pursuance of the decision of the Government, Ministry of Defence finalized the package in November, 2010 and implemented in March, 2011.

This information was given by Minister of State for Defence Shri MM Pallam Raju in a written reply to Shri Nandi Yellaiah in Rajya Sabha today.