Swan Defence and Heavy Industries Limited — Updates, 02-12-2024: Press Release

Swan's Shipyard has resumed operations, successfully completing the refit of the Indian Coast Guard's fast patrol vessel, Raj Ratan, ahead of schedule. This project, which commenced on September 4, 2024, was finished on November 30, 2024, in collaboration with Sadhav Offshore Engineering Pvt. Ltd. The revival of the shipyard, managed by Swan Energy Limited since earlier this year, represents a significant milestone, positioning it to enhance India's ship repair and shipbuilding capabilities. The facility boasts the largest dry dock in India, measuring 662 meters by 65 meters, equipped with modern amenities for shipbuilding and heavy engineering. The leadership aims to establish the shipyard as a key maritime hub globally. The positive momentum in operations presents potential growth opportunities, and shareholders should monitor future developments closely.