"This is a strategic acquisition for ABG considering the location of Vipul, which is adjacent to the existing shipbuilding facility
of ABG at Surat and is a move to augment its resources for further consolidation of shipbuilding capacity in the growing segments of offshore, coastal shipping and other avenues of shipbuilding," ABG's spokesperson said.
ABG Shipyard has signed a Memorandum of Understanding to this effect, pursuant to which a large portion of Vipul's land with good waterfront would be added to ABG's resources along with a slipway and other plant and equipment for shipbuilding.