Visakhapatnam being the financial capital of the state Andhra pradesh it main source of income is from shipping yard.
Shipping yard is founded as the Scindia Shipyard; it was built by the industrialist Walchand Hirachand as a part of the scindia steam navigation company ltd. He selected the city as a strategic and ideal location and took possession of land in November 1940. In the year 1941 during world war 2 , the town was bombed by Japanese. Walchand wanted to continue his plan of building the shipyard in Visakhapatnam. In days when it was unthinkable of foundation ceremony to be done by anyone other than British officials, he being truly patriotic, decided to break the tradition and the foundation stone was laid by Dr. Rajendra Prasad on 21 June 1941, who was acting congress president at that time. The first ship was built at the Scindia shipyard and named Jal Usha.
Walchand died in 1953, and the Scindia shipyard continued to flourish under next of kins of founders. In 2010, HSL was transferred from the ministry of shipping to the ministry of defence. The yard played a critical role in the development of nuclear-powered.
Existing infrastructure and facilities
The shipyard is relatively compact at 117 acres, the shipyard has an ergonomic layout thata ensures unidirectional material flow. 2000 T/month od steel can be processed in the yard with the stockyard that can hold 30,000 tonnes of steel, modern plate and section treatment plant, NC cutting machine heavy duty presses. Its is equipped with the plasma cutting machines, steel processing and welding facilities, material handling equipment, cranes, logistics and storage facilities. It also has testing and measuring facilities.
It has a covered building dock for building vessels up to 80,000 DWT. There are three slipways and 550 metres. HSL has a dry dock, wet basin and repair dolphin for ship and submariner repair and retrofitting.
HSL has built over 179 vessels till 2017 and repaired almost 2000 ships. It builds bulk carriers, offshore patrol vessels, survey ships, drill ships, offshore platform and repair and support vessels. It also major hauls of Indian Navy Submarines, and being equipped to construct nuclear-powered submarines. The submarines Vela, Vagli and Sindhukriti each almost spent 10 years for a single refit at HSL. HSL deployed only 50 workers to work on Sindhukriti.
Hon’ble raksha mantri’s award for innovation
Hon’ble raksha mantri shir Arun Jaitley was awarded prizes for excellence in various categories to DSPUs on 30 may 2107 at Manekshaw centre, NewDelhi. HSL has been recognised for excellence under the category “own initiative project” and was awarded a cash prize of 1,00,00/- along with a citation for accomplishing the following innovative projects
Innovative carrier shafting work
Rubber carrier bearing modification technique
The yard has also won two awards it the category of ‘Technology Development’ and ‘Technology Innovation’