The media had reports that ABG Shipyard Limited has bagged order worth $440 mn for two jackup rigs from Essar Shipping Ports and Logistics.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
ABG Shipyard Limited has vide its letter inter-alia stated, "We are in the shipbuilding industry and we deal with many potential parties. We announce only those orders which are converted into effective business by signing a contract."
"In the instant case, we would like to inform you that we are in advanced stage of negotiations with various parties including Essar Shipping Ports and Logistics, for the construction of Jack-up Rigs. However, no formal contract has been concluded to this effect between the Company and any other parties, as on date." -- www.nseindia.com
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