Cochin Shipyard awarded license by GTT

License agreement was signed at ceremony in Delhi License agreement was signed at ceremony in Delhi

DECEMBER 21, 2015 — India is a significant step closer to building its first LNG carriers.

Paris headquartered GTT (Gaztransport & Technigaz) reported today that it has granted a license agreement to Indian government owned Cochin Shipyard Ltd. (CSL) for the construction of LNG carriers using GTT's membrane containment systems.

CSL received the license after successfully completing the GTT qualification process including membrane tank mock-up installation. It is the first Indian shipyard to be licensed by GTT.

"Obtaining this technology has made a significant positive change to the technical competence and stature of this yard," said Commodore K Subramaniam, Chairman and Managing Director of CSL. "Going forward, we feel that this technology would help the yard to tap the huge shipbuilding prospects in the LNG vessel segment. Our partnership with Samsung Heavy Industries (SHI) has been a critical factor in CSL completing GTT's stringent qualification requirements."

Philippe Berterottière, Chairman and CEO of GTT said that the agreement "marks the beginning of a promising cooperation with CSL. He added thta "building LNG ships in India, with the assistance of Samsung Heavy Industries, will not only enhance the initiative of the 'Make in India' objective of the Government of India, but will also provide excellent opportunity to an Indian shipyard in the growing LNG market".

Want more? Subscribe now!

News from NASDAQ