Titagarh Wagons takes its first step to commission vessels for Indian Navy and National Institute of Ocean Technology

Chandigarh, May 9, 2017: Titagarh Wagons Limited (BSE: 532966|NSE: TWL), a flagship company of the Titagarh Group, which has efficaciously transformed itself from a wagon manufacturer for Indian Railways to a multinational diversified engineering and fabrication Group, gave a major impetus to the Union Government’s Make in India campaign today. The company successfully started the construction of two 1000T Fuel Barges for Indian Navy and two Coastal Research Vessels for National Institute of Ocean Technology (under Ministry of Earth Sciences, Govt. of India) at their Titagarh Shipyard. The ceremonial event of cutting the first steel plate for these four state of the art vessels was graced by the august presence of Chief Guest Dr. Madhavan Nair Rajeevan, Secretary, Ministry of Earth Sciences, Chairman, ESSO and Chairman, Earth Commission and Mr. Jagdish Prasad Chowdhary, Founder and Executive Chairman, Titagarh Wagons Limited. Various other dignitaries from Indian Navy like Commodore Suprobho K De, Naval officer-in-charge of West Bengal along with Commodore Diwakar Tomar, Warship Production Superintendent Kolkata and other Naval officers besides Dr. Satheesh C. Shenoi, Director of National Institute of Ocean Technology and Dr. D. Rajasekhar, Head Vessel Management Cell, NIOT were present marking this momentous occasion and initial milestones in the ship construction process.
Expressing his delight on this development, Mr. Jagdish Prasad Chowdhary, Founder and Executive Chairman, Titagarh Wagons Limited, said, “By entrusting the construction of these four highly complex and technologically advanced vessels with us, the Indian Navy and NIOT have reposed great faith and trust in Titagarh Group’s capabilities and dedication towards innovation and diversified portfolio. We are proud as a manufacturer today that with broadening of horizons in our businesses we could be a significant part of the Make in India campaign started by Government of India. I firmly believe that this significant development will complement our growth strategy in years to come. We are thankful to all the dignitaries especially Dr. Madhavan Nair Rajeevan, Secretary MoES along with the team from NIOT and Commodore Suprobho K De, Naval Officer in Charge WB along with the Naval Team who devoted their precious time today here at our Titagarh shipyard to mark this auspicious steel cutting occasion”
These four ships are the first tenders won by Titagarh Wagons post the company’s foray into ship building business vertical in the beginning of this year. In February, the company reported at BSE and NSE that it has signed the contract from National Institute of Ocean Technology under the Ministry of Earth Sciences, Government of India for design, construction and delivery of two high end coastal research vessels valued at ? 100 crore. In March, the company reported that it has signed the contract with Ministry of Defence (Navy), Directorate of Ship Production for undertaking design, construction and delivery of two fuel barges for the Indian Navy worth ? 75 crore which will support the famed INS Vikramaditya, Indian Navy’s flagship aircraft carrier. Today, the steel cutting ceremony marked the start of the shipbuilding process for both these contracts at its yard in Titagarh, Kolkata.
Titagarh Wagons has always been proactive in technological innovation through its multiple business verticals by developing new designs of wagons and now shipbuilding, keeping in line with the Make in India vision and initiative of the Hon’ble Prime Minister of India.