The contract was cancelled two weeks ago due to the delay in the delivery of the vessels
The contract to build five warships was signed with the company in 2011
New Delhi: The Ministry of Defence has cancelled Reliance Naval and Engineering Ltd’s (RNEL) ₹2,500-crore contract to build naval offshore patrol vessels (NPOVs) for the Indian Navy, owing to delay in delivery of the vessels, a person familiar with the matter said on Friday.
The contract was cancelled two weeks ago due to the delay in the delivery of the vessels, the person said.
In August, 12 companies had submitted expressions of interest (EOI) for RNEL. These included APM Terminals, United Shipbuilding Corporation (Russia), Hazel Mercantile Ltd, Chowgule Group, Interups (USA), Next Orbit Ventures, ARCIL, IARC, JM ARC, CFM ARC, Invent ARC and Phoenix ARC, the PTI report added.