MoU signed between Department of Defence Production and HSL

July 18, 2017 Photo(s): By PIB
The Secretary (Defence Production), Ashok Kumar Gupta and the CMD of Hindustan Shipyard Limited (HSL), Rear Adm. (Retd.) L.V. Sarat Babu at the MoU signing ceremony, in New Delhi on July 18, 2017

Hindustan Shipyard Limited (HSL), a Schedule 'B' Central Public Sector Enterprise (CPSE) under the administrative control of Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry, here today. The annual MoU was signed between Secretary (Defence Production) Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director HSL Rear Adm (Retd) LV Sarat Babu.

The MoU, outlines targets on various performance parameters for the company during the year. The revenue from operations has been targeted at Rs. 600 Crore.