Pipavav Shipyard project was originally conceived and implemented bySKIL Infrastructure Limited (SKIL).In September 2007,Punj Lloyd Limited (PLL) acquired a substantial stake in the Company, and now, both SKIL and PLL are co-promoters of the company. A shipbuilding, ship repair and offshore fabrication complex being constructed by the Company at Pipavav in the State of Gujarat, India. The complex is spread over an aggregate area of 198.92 hectares (approximately 491.53 acres), comprising an SEZ unit spread over 95 hectares (approximately 234.75 acres) and an EOU spread over 103.92 hectares (approximately 256.79 acres). The EOU site adjoins 800 meters of dedicated waterfront. The two sites are connected by a dedicated corridor road of approximately 4.5 km length built by the Company. The current phase of the construction of the Pipavav Shipyard includes:

	conversion of one of the two existing wet docks into a dry dock measuring 662 meters in length and 65 meters in width, and which is capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels, including vessels catering to offshore activities such as offshore supply vessels (“OSV”), anchor handling tug supply vessels and multi-purpose support vessels;
	the construction of a fabrication and block assembly facility for shipyard operations;
	the establishment of dedicated facilities comprising an offshore yard with load out facilities for our Offshore Business Products; and
	the installation of two Goliath cranes, each having a lifting capacity of up to 600 tonnes, including fit out berths, for building and repairing vessels, including naval vessels and coast guard vessels.

The contract for the dry dock was awarded in April 2007 to AFCONS Infrastructure Limited, one of India’s leading companies involved in executing large and complex civil engineering projects at home and abroad, with emphasis on jetties, docks, harbours, roads, bridges & special foundations. AFCONS is part of the Shapoorji Pallonjiconstruction conglomerate The first dry dock is substabntially complete, and is scheduled for completion in October 2009.

Various sophisticated equipment is already in place such as IHI cranes, sky masters, gantry cranes, gas cutting automated self-propelled gas cutting equipment and hydraulic material handling equipment along with infrastructure utilities such as oxygen generation plant, pollution control facilities, LPG system and fire fighting systems.

A considerable part of the development activity has already been carried out. Infrastructure developed so far includes two large wet docks(wet basins) with a length of 680 meters each and widths of 65 meters and 60 meters. These wet basins are being converted into dry docks which will be used for construction and repair of ships and will be the largest in India and amongst the largest in the world.