New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Hemant Khatri as Chairman & Managing Director (CMD) of Hindustan Shipyard Limited (HSL), a Miniratna PSU under the Ministry of Defence on Wednesday. According to an order issued on May 27, Khatri has been appointed on the post for a period with effect from the date of his assumption of charge of the post on or after September 1, till the date of his superannuation i.e. July 31, 2025, or until further orders, whichever is earlier. He is currently serving as Director (Strategic Project) in the same organisation.
Earlier, PSU Watch had reported that Khatri was recommended for the post of CMD of HSL from a list of four candidates who were interviewed by the selection panel. Two candidates on the list, including Khatri, were from HSL. The other candidates were from Shipping Corporation of India and the Indian Navy.
The challenge of DPSU's revival
The challenges for Khatri as CMD is enormous. The financials of the company has nosedived, the order book has been ever-squeezing. As per the last available data, which is of March 31, 2019, the balance order book value for ship construction was as meagre as Rs 2689 Cr. Majority of this comprises of two Diving Support Vessel and four 50 Ton BP Tugs for Indian Navy. However, Khatri has been working with HSL for three years which gives him an acquainted stand to take up strict reforms.
Khatri is a former Indian Navy officer. He had joined HSL board in April 2017. He has vast experience in ship construction and repairs. He had served Naval Dockyard, as well as at the headquarters in various capacities. As the officer-in-charge of the Indian Naval Team deputed to Euro Shipyard in Italy for three years, he had overseen the construction and delivery of Navy’s Fleet Tankers INS Deepak and INS Shakti.
Hindustan Shipyard Ltd (HSL)
Hindustan Shipyard Limited (HSL) is India’s indigenous shipbuilding organisation catering to the needs of shipbuilding, ship repairs, submarine construction and refits as well as design and construction of sophisticated state-of-the-art offshore and onshore structures. Direct sea access, excellent infrastructure, skilled workforce, rich expertise garnered over the years in building 189 vessels and repairing 1968 vessels of various types enable HSL to offer competent services for the defence and maritime sectors.