ABG bags Rs970 crore order from Indian Navy

ABG bags Rs970 crore order from Indian Navy

New Delhi: ABG Shipyard has received a Rs970 crore order from the Indian Navy for construction of two cadet training ships.

The two ships will be used for providing basic training to the naval cadets and trainees and carrying out disaster relief, search and rescue operations, with the capability to carry light helicopters, ABG Shipyard said in a communique to the Bombay Stock Exchange (BSE).

“The vessels will be approximately 110 metres in length and will be designed to achieve a maximum speed of 29 knots," it added.

ABG Shipyard said it would build the ships at its Dahej and Surat yards, which are fully geared to construct all kinds of ships for the Indian defence sector.

The total order book of the company currently stands at Rs14,890 crore.

ABG’s scrip was down by over 1% at the BSE at Rs365.25 at around 12:30 pm on Tuesday.