India’s biggest private sector shipbuilders ABG Shipyard Ltd, Subhash Projects and Marketing Ltd, Zoom Developers Pvt. Ltd and Helicon Engineering Works are in the race to buy shipbuilding firm Alcock Ashdown (Gujarat) Ltd from the Gujarat government.
All four firms confirmed they have qualified to bid for 100% stake in Alcock Ashdown, which has two shipbuilding and repair facilities in Gujarat, one each in Bhavnagar and Chanch. The four qualified bidders have been asked to submit their price bids by 31 July, an official at one of the four shortlisted firms said. He did not want either himself or his firm to be identified.
Alcock Ashdown was originally owned by a British company. When the firm ran into financial trouble, it was taken over by the Indian government in 1975. Subsequently in 1994, the yard was acquired by the Gujarat government.
The Livemint article.
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