Cochin Shipyard bags Rs 53 cr contract

During the fiscal the yard is expected to surpass the highest ship repair turnover of Rs 124 crore achieved in 1997-98. Tuticorin Port Trust tug `Thiruvalluar’ will soon be ready to sail off. Oil and Natural Gas Corporation’s offshore supply vessel `Sindhu-I’, jack-up rig `Sagar Shakti’ and mobile offshore drilling unit `Sagar Bhushan’ are likely to follow soon.

The yard’s proposal for expansion of ship repair capacity is under consideration with the government. "We expect tax reliefs from government on investments made for setting up of new capacity and modernisation of facilities. Shipyard needs to be given selective support by way of infrastructure status to source cheaper finance and set apart profits for investment in expansion of capacity," an official from the yard said.

Indian Navy, for the first time, has entrusted their ships `Nireekshak’ and `Sharabh’ for repairs to the shipyard. New Mangalore Port Trust’s tug `Varahi’ and Indian Oil Corporation’s `Imodco Buoy’ are at present undergoing repairs at the shipyard. Absence of smaller ship repair dry berths has at times led to postponement of certain ships already firm stemmed with the yard.

MUMBAI: Growing from a meager 1.5 per cent in the month of April 1999, Akai India now commands a sizeable market share of 5 per cent. Now after gaining ground in the CTV markets for the first half of the year, it has positioned itself to capture 7 per cent of the market share in the year ending March 2001. Aiming to achieve a business of Rs 500 crore by this March 2001, Akai is raring to surge ahead at full steam.

In the first half of the year, it has grown over 100 per cent in its turnover compared to last year. The growth has largely been aided with the launch of new products both in the CTV and audio category in the market and strategic advertising using the media judicially.

It has introduced six new products in the last three months. Akai India has also introduced the Akai a pure flat 21" CTV, which has been well received by the market. Incidentally, this product has also received a five star rating in its VFM (value for money) aspect by a popular trade/consumer magazine which reviews products for the benefit of the consumer.

Akai now plans to introduce a new range of audio products which will be available by early next year. The products will be up-the-ante in the audio CD and video CD categories. The new products are expected to contribute over 20 per cent of Akai’s set target for the year.

Basant Pande, the COO of Akai said "it will introduce another six new CTV models by next three months and will increase its brand presence by being present in both segments of the high end and low end market. By doing so, it can cater to both segments of the society and provide competitive options." These ambitious plans has put Akai on a strategically different platform as amongst the high end CTV industry which is very norrow.