Cochin Shipyard bags ₹10,000 crore Navy order for six missile vessels1 min read . Updated: 23 Feb 2021, 03:42 PM IST
- Incorporated in 1972, CSL can build ships up to 1,10,000 dead weight tonnage (DWT) and repair ships up to 1,25,000 DWT
- CSL has secured shipbuilding orders from internationally renowned companies from Europe and Middle East
Cochin Shipyard Ltd (CSL) said on Tuesday that it has been declared as the lowest bidder by ministry of defence for construction of six next-generation missile vessels to be used by Indian Navy. The estimated total order value is about ₹10,000 crore, it said.
The state-owned company has emerged as a forerunner in the Indian shipbuilding and ship repair industry that can build and repair the largest vessels in India.
"At the meeting held today (February 23) at the Ministry of Defence, New Delhi, Cochin Shipyard Ltd (CSL) has been declared as L1 (the lowest bidder) in the tender floated by the Indian Navy for construction of six...Next Generation Missile Vessels (NGMV)," CSL said in a regulatory filing to the BSE.
"The final announcement of contract will be subject to satisfactory completion of necessary formalities in this regard which will be updated in due course," said CSL in regulatory filing.
Incorporated in 1972, CSL can build ships up to 1,10,000 dead weight tonnage (DWT) and repair ships up to 1,25,000 DWT. CSL has built and repaired some of the largest ships in India. The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT. It is presently building a prestigious indigenous aircraft carrier for Indian Navy.
CSL has secured shipbuilding orders from internationally renowned companies from Europe and Middle East.
(With inputs from agencies)