50 COS OPERATING FROM ALANG, SOSIYA IN DEEP WATERS
Article Abstract:
Around 50 ship-breaking companies operating in the Alang and Sosiya yards in Gujarat have been severely hit by the recession in the industry, poor domestic offtake, glut in steel scrap and unhealthy competition in the industry. Around one-third of the 170 units in the area have closed down and around 40 units have changed hands. The banks financing the industry - the State Bank of India and the Dena Bank - have also tightened the norms for funding the sector, as their accumulated non-performing assets have gone up to Rs100 crore. (gsh)
Comment:
India: Around 50 ship-breaking cos operating in Alang and Sosiya yards in Gujarat have been severely hit by recession
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ALANG YARD CLOSURE IMMINENT
Article Abstract:
The Alang yard in Gujarat, which is the world's largest shipbreaking yard, is on the verge of closure, due to the inhumane and hazardous environment persisting at the yard. The two committees set up by the government of India and the Gujarat government to formulate norms for the sector have proposed strict norms for the industry. These include closure of existing units, which flout rules regarding labour, environment and other related issues. (gsh)
Comment:
India: Alang yard in Gujarat, world's largest shipbreaking yard, is on verge of closure due to poor condition
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MUMBAI SHIPYARD IS TURNING INTO ANOTHER ALANG (1)
Article Abstract:
Mumbai port is turning into a ship-breaking yard like Alang in Gujarat. About 19 ships are waiting to be scrapped, of which 12 are at Raithy Bunder and the r
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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