India’s first warship INS Vikrant, which served the nation in couple of International wars, was finally sold to a Ship Breaking Company at INR 63 crore and is now ready for dismantle.
IB Commercial, a company based at Mumbai dealing in all types of Scrap, has acquired this warship for INR 63 crore in the auction conducted by the government. The reserve price of the ship was INR 3 crore.
The company is planning to sell the national reserve as Premium Scrap.
SteelMint spoke to a senior official of IB Commercial. On conditions of anonymity he informed-
[su_quote]Company would soon start dismantling of ship and would be offering it for sale. The sale is expected to start next month.[/su_quote]
Total quantity of MS Scrap to be extracted is estimated at around 15,500 MT which would include Scrap from machinery, engines and structure of ship apart from propeller.
Trading of ship would take place from Mumbai’s main Scrap trading market named Darukhana.
About INS Vikrant
INS Vikrant was built in England well before World War II ended and was owned by India in 1957. The ship was decommissioned after a couple of decades in 1997, later it was turned into a maritime museum berthed in the city harbor.
More money was being spent on repairs than was being earned; therefore the management took the decision to go for its auction.
Leave a Reply