American vessels to be repaired at Indian shipyards

New Delhi, June 26 (KNN) India and the US have signed an agreement on repair of ships which could see American vessels roll into Mazagon docks and Goa Shipyards, along with L&T’s facility in Kattupalli, said Union Finance Minister  Nirmala Sitharaman on Sunday.

She said that this pact will boost domestic manufacturing and jobs.

The Union Minister was highlighting a series of partnerships and investments that were announced during PM Modi’s visit to the US.

The US Navy has sealed a Master Ship Repair Agreement (MSRA) and is finalising two more agreements to allow mid-voyage ships to undergo service and repair at Indian shipyards. 

She said that GE-HAL tie-up for aircraft engines will help boost domestic production and also be beneficial to the Indian public sector company.   (KNN Bureau)