State-run Mazagon Dock Shipbuilders Ltd (MDL) announced that the company board has accepted the offer of Mumbai Port Authority (MbPA) for the allotment of land parcel measuring 14.55 acres, adjacent to MDL Mumbai Yard on a long term lease basis.
The allotment, it said, is effective from April 1, 2024, until March 31, 2053, and comes at a total cost of approximately Rs 354 crore. The total allotment cost includes Upfront Lease Premium, Cost of Buildings and Structures, GST, Stamp Duty and Registration Charges.
“We hereby inform that the Board of Mazagon Dock Shipbuilders Ltd (MDL), in the Board Meeting held on 20.03.2024, has accepted the offer of Mumbai Port Authority (MbPA) for the allotment of land and building (Workshop land and Clark Basin), measuring 14.55 acres, adjacent to MDL Mumbai Yard on long term lease basis to MDL for 29 years w.e.f. 01.04.2024 to 31.03.2053,” the company said in a regulatory filing.