MoU Signed Between Department of Defence Production and GSL

Goa Shipyard Limited (GSL), a Miniratna Defence Public Sector Undertaking (DPSU) signed an MoU for the financial year 2017-18 with Ministry of Defence. The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director, GSL Rear Adm (Retd) Shekhar Mital.

This year’s MoU target for ‘Revenue from Operations’ has been set at Rs1150 crore, which is 43 percent higher than the financial year 2016-17 target of Rs800 crore. Notably, in the financial year 2016-17, the Shipyard achieved historical high VoP of Rs1030 crore and PBT of Rs177 crore. GSL was adjudged as ‘Best Performing Shipyard’ by MoD.
Important Takeaways from Above News-

  • Dr. Subhash Bhamre is the Union Minister of State for Defence
  • Shri Arun Jaitley is the Defence Minister of India.
Source- Press Information Bureau (PIB)

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