Trasformer AD
Trasformer AD

Financial Assistance Policy for shipyards

Facebook
Twitter
LinkedIn
WhatsApp
Email

The government has introduced a Rs 4,000-crore Financial Assistance Policy (FAP) for Indian shipyards for a period of 10 years, for contracts secured between April 1, 2016 and March 31, 2026. Under this scheme, financial assistance equal to 20 per cent of the lower of “Contract Price” or the “Fair Price” will be extended to Indian shipyards for each vessel built by them. This rate of 20 per cent will be reduced by 3 per cent every three years. Provided that at the time of release of financial assistance, if the actual payment received for a vessel is lower than the contractual price or fair price, then financial assistance will be given on the actual payment received.

Facebook
Twitter
LinkedIn
WhatsApp
Email

Subscribe to Our Newsletter

Share your views in comments

AR-627903_Web banner_Maritime Gateway_300x200

Gateway Media Private Limited
Join Our Newsletter

Latest Issue