The Shipping Ministry has rolled out
an updated version of the web application for Ship Yards seeking assistance
under the ship building financial assistance policy for domestic ship yards finalized
in 2015. A sum of Rs Four Thousand Crores of financial assistance has been
earmarked for shipyards under this scheme for a period of ten years for
contracts secured between April 2016 and March 31, 2026.
The Shipyards Association of India
had raised certain issues with regard to the previous web applications which was
launched in June last year for processing applications for the financial
The Shipping Ministry held a series
of consultations with the stakeholders and based on the discussions has rolled
out an updated version of the web application along with an amended set of guidelines
for applying under the policy.
Under the amended guidelines, ,increased
number of days are now available with the shipyards to apply under the policy
as well as to obtain and submit valuation reports. The updated web application
also generates a wider choice of International Valuers, with whom the valuation
of a vessel can be carried out. The updated version of the web application will
be administered and monitored by the Directorate General of Shipping.