VISAKHAPATNAM: The Hindustan Shipyard Limited (HSL) Chairman and managing director Hemant Khatri said that HSL has vast potential to secure high-value construction and refit orders and meet the future requirements of the Indian Navy and Coast Guard, propelling the Atmanirbhar Bharat.

HSL is in the process of finalizing the contract for the construction of five fleet support ships (FSS) worth about Rs 22000 crore approximately by the end of 2021-22.

The CMD inaugurated the 6-day Azadika Amruth Mahotsav Mela (exhibition) on Monday and opened it to the public. The exhibition showcases the ship models, tools and equipment and maritime history of the shipyard since its inception.

Speaking on the occasion, the CMD Hemant Khatri said that considering the past expertise gained by the HSL in timely completion of the normal refit of INS Sindhuvir, it is hoping to be awarded norm refit of another Indian Naval Submarine. The CMD informed that HSL has a registered vendor base of 364 MSMEs and has taken initiative to conduct regular vendor development meets to enable free flow of information regarding the business opportunities, especially for indigenization.

He said seven vendor meets were held addressing each category of MSMEs including women, SC/ST, and others. HSL has procured goods worth 38% of its total procurement from MSME over the last four years on average, this figure has been achieved already in this financial year.

The CMD said that future orders for outsourcing and material procurement would be to the tune of Rs. 4500 crore to Rs. 5000 crore in the next three to four financial years. HSL is modernizing at a rapid pace with almost Rs. 1000 crore spent on infrastructure in the next two to three years.