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HSL achieves 80% of indigenous content on recently delivered INS Nistar
HSL achieves 80% of indigenous content on recently delivered INS Nistar

Hans India

time7 hours ago

  • Business
  • Hans India

HSL achieves 80% of indigenous content on recently delivered INS Nistar

Visakhapatnam: Hindustan Shipyard Limited (HSL) is consistently making efforts to boost indigenisation in its ship construction projects under Make in India policy, said C&MD of HSL Cmde Hemant Khatri (Retd). At a media briefing organised on Tuesday, he stated that the HSL achieved 80 per cent of indigenous content on recently delivered INS Nistar and 72 per cent of indigenous content in floating dock. The yard has indigenised 39 items worth Rs 220 crore which were being imported. The organisation provides employment in and around Visakhapatnam. 'HSL has been undergoing a rapid and comprehensive transformation. The significant reforms implemented by it across all facets in recent years, including various policy changes aimed at improving the ease of doing business, have been instrumental in driving our growth. As a testament to these transformational efforts, HSL has received 14 awards and recognitions in the last one year as displayed on the slide,' the C&MD mentioned. The financial performance over the last five years reflected a strong growth trajectory and turnaround. 'Our total income has increased steadily from Rs.403 crore in FY 2020–21 to Rs.1,783 crore in FY 2024–25 which is a more than four-fold increase over five years. Net worth in the last five years is a testament to the rapid transformation, commitment and growth the shipyard has taken in its march towards positive net worth company,' said Cmde Hemant Khatri. Considering the past experience in repairing EKM submarines and successful execution of NR of INS Sindhukirti, he stated, HSL is poised to undertake MRLC of INS Sindhuvijay in India for the first time. Keeping in line the strategic requirements the company has also signed an MoU with MDL to step its foot from submarine repair to submarine construction. Towards contributing to the prestigious GTTP programme, HSL has taken many pro-active initiatives including strategic partnership agreement with Lotus Wireless, Visakhapatnam and Vinssen and DSEC of South Korea. Stating that there's emergingrequirement to counter the drone fighting capabilities in newly built vessels, the HSL C&MD said, 'Recently, an MOU was signed with Pentagon Rugged Systems for developing anti-drone technology and long range NLOS communication for naval vessels. We have also entered into an MoU with BEML to develop indigenous marine systems in line with Atmanirbhar Bharat. HSL signed an MoU with Worlds leading Shipbuilding Company Fincantieri and reputed design agency DESC Korea to construct vessels embedded with latest technology and advanced design integration.'

Gold price per tola decreases Rs1,500 in Pakistan
Gold price per tola decreases Rs1,500 in Pakistan

Business Recorder

time04-07-2025

  • Business
  • Business Recorder

Gold price per tola decreases Rs1,500 in Pakistan

Gold prices in Pakistan declined on Friday in line with their decrease in the international market. In the local market, gold price per tola reached Rs355,500 after a loss of Rs1,500 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs304,783 after it shed Rs1,286. On Tuesday, gold price per tola Rs357,000 after a gain of Rs800 during the day. The international rate of gold decreased on Friday. The rate was at $3,335 per ounce (with a premium of $20), a loss of $15, as per APGJSA. Meanwhile, silver price per tola remained unchanged at Rs3,871.

RM3.311mil official car purchases under fire
RM3.311mil official car purchases under fire

The Star

time21-05-2025

  • Automotive
  • The Star

RM3.311mil official car purchases under fire

GEORGE TOWN: Penang's state executive councillors and ex-officio members have been going around in the latest Toyota Camry over the past two months. The purchase of the new cars was revealed yesterday, only to come under criticism from political parties. Chief Minister Chow Kon Yeow told reporters at the state assembly that the new fleet of 15 vehicles, costing RM3.311mil in total, was delivered in March. 'The cars were delivered to 10 executive councillors and three ex-officio members, namely the state secretary, the deputy chief minister and the state legal adviser, as well as the state assembly speaker and deputy speaker. 'On average, each car cost RM220,783,' he told reporters. The new ninth-generation Toyota Camry features a completely redesigned interior, refreshed exterior styling and comes exclusively with hybrid powertrains. The previous 2018–2024 models, bought in 2019, offered both petrol and hybrid options. Chow said the previous vehicles had been in service for over five years but he did not specify why they had to be replaced. Penang MCA chairman Datuk Tan Teik Cheng questioned the rationale behind the decision to spend RM3.3mil on new vehicles at a time of economic challenges, when people are struggling with the cost of living. 'We've heard of government announcements to raise taxes, fees and charges, including liquor licence fees, quit rent enforcement, and even veterinary service charges. 'There was even a report that the state is considering reviewing the financial aid to Penangites under the i-Sejahtera welfare programme. 'This (car purchase) is unacceptable. The money should be used more wisely,' he said.

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