S Jeevan, chairman of the Aroor-based Samudra group and promoter of the new venture, says the new company has got registered as Samudra Shipyard Pvt Ltd by the Registrar of Companies three months ago. "This status was accorded after the authority got itself satisfied that the group has the necessary technical expertise and funds to start the new venture. The new venture, to be based near the Kochi port, will have a foreign collaborator."

Kerala Industries Minister P K Kunhalikutty handed over the ISO certification to the company at a formal function at the boatyard of the company in Aroor near here today, marking the beginning of the new company.

The Aroor-based company, which has a unit in Lakshadweep, is now engaged in the construction of fibreglass boats, water sports equipment and marine accessories. The new company will concentrate in the building of medium-size passenger ships in fibreglass. Mini-passenger ships built in fibreglass operating between islands are popular in foreign countries but not in India.

Jeevan says the company has plans to build ships for the Indian Navy and the Coast Guard. Officials of the Navy have already visited the boat-building yard of his company in Aroor and approved the facilities there.

According to Jeevan, the new shipyard is equipped to build mini-cruise ships and patrolling vessels for the Coast Guard. The new company is planning to build mine sweepers for the Navy in fibreglass. Fibreglass ships will be best suited as mine sweepers as fibreglass, a non-conducting material, will not lead to explosion of mines scattered in water.