The Ministry of Ports, Shipping and Waterways on August 23, 2023, issued a notification regarding the Guidelines for Shipbuilding Financial Assistance policy (SBFAP) Amendment.
The following has been stated: -
•Guidelines for financial assistance policy (SBFAP) were sent to the Directorate General of Shipping to inform that the guidelines of SBFAP have been further modified. The following amendments have been made to the guidelines: -
(i)Modifications in para no. 2(g)(iii) regarding repeat orders
(ii)Para 2(h) has been added defining, Hybrid propulsion system
(iii)Modifications in para 3 &7(a) for allowing additional time of 1 year for delivery if more than two vessels are signed under the same contract (series order)
(iv)Para 1 of Schedule-I has been amended granting exemption on length to green and hybrid vessels
(v)In Schedule IV, the rate of financial assistance for hybrid and green vessels has been fixed.
(vi)Modification in para 3 of Schedule-I granting exemption to defense vessels not fitted with weaponry
The detailed notification is given in the document attached below.
[File No. SY-16023 /6/2015-SBR, Part-1]
