Indian Navy: Cochin Shipyard lowest bidder for Rs 10,000 crore contract to build missile vessels for Indian Navy

Cochin Shipyard on Tuesday stated it has emerged because the lowest bidder for a Rs 10,000-crore contract by the Indian Navy, to construct Next Generation Missile Vessels. The state-owned firm has emerged as a forerunner within the Indian shipbuilding and ship restore business that may construct and restore the biggest vessels in India.

“On the assembly held as we speak (February 23) on the Ministry of Defence, New Delhi, Cochin Shipyard Ltd (CSL) has been declared as L1 (the bottom bidder) within the tender floated by the Indian Navy for development of six…Subsequent Era Missile Vessels (NGMV),” CSL stated in a regulatory submitting to the BSE.

The estimated order worth is round Rs 10,000 crore, the corporate stated.

It stated the ultimate announcement of the contract might be topic to the passable completion of vital formalities on this regard, which might be up to date sooner or later.

Integrated in 1972, CSL can construct ships as much as 1,10,000 lifeless weight tonnage (DWT) and restore ships as much as 1,25,000 DWT.

The yard has delivered two of India’s largest double hull Aframax tankers every of 95,000 DWT.

CSL has secured shipbuilding orders from internationally famend firms from Europe and Center East and is nominated to construct the nation’s first indigenous air defence ship.