Local ship builders gear up for LNG ship construction sector.

India's top shipyards are gearing up for a multi-billion dollar opportunity to build liquefied natural gas (LNG) vessels for state-owned importers, but a reputation for late deliveries could play spoilsport.

GAIL (India) Ltd. will float a global tender in the next few days to hire an initial set of six LNG ships to haul 5.8 million tonnes per annum of LNG purchased from the US for 20 years beginning September 2017. The state-owned natural gas firm plans to lease another 7-8 ships subsequently. At current market prices, an LNG ships costs about $200 million to build. GAIL's shipbuilding tender is worth $2.8 billion and is keenly watched by global shipbuilders.

LIVEMINT