Titagarh Naval Systems gets in-principle approval for ₹129 Crore expansion project
Titagarh Naval Systems (TNSL) received in-principle approval for a ₹610 crore Brownfield Expansion project at Falta. The project is eligible for up to ₹129 crore in capital assistance under the Shipbuilding Development Scheme. This expansion will enhance TNSL's capabilities for defense, commercial, and export shipbuilding.
The expansion project represents a significant investment and capacity enhancement for the subsidiary, which is expected to boost future growth in the shipbuilding sector. However, it is a subsidiary's project and not the parent company's direct financial results.
The in-principle approval for a significant expansion project, coupled with eligibility for substantial government assistance, is a positive development for the company's shipbuilding division.
Titagarh Naval Systems Limited (TNSL), a wholly owned subsidiary of Titagarh Rail Systems Limited, has received an in-principle approval from the Directorate General of Shipping, Ministry of Ports, Shipping and Waterways. This approval is for a proposed Brownfield Capacity Expansion Project at Falta, West Bengal, under the Shipbuilding Development Scheme (SbDS).
The project is eligible for Capital Assistance (subsidy) of up to ₹128.89 crore (Rupees One Hundred Twenty Eight Crore Eighty Nine Lakh Six Thousand and Six only), subject to final approval and compliance with the scheme's provisions. The total project cost for the expansion is approximately ₹610 crore, with the Government contributing around ₹129 crore towards eligible plant and machinery.
Shri Umesh Chowdhary, Vice Chairman & Managing Director, Titagarh Rail Systems Limited, expressed gratitude for the government's support and highlighted the project's significance in building a self-reliant and globally competitive maritime nation. The expansion aims to enhance TNSL's infrastructure and technological capabilities to cater to defense, commercial, and export-oriented shipbuilding requirements.
Titagarh Naval Systems Limited, with an approximate order book of over ₹500 crore (including taxes), is designed to handle ships up to 180 meters in length and has an annual capacity of 12-16 vessels. This expansion will allow TRSL to focus more on its core railway systems business while TNSL pursues growth in shipbuilding.
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