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Pipavav Defence is lowest bidder for Indian Coast Guard order - Livemint
Pipavav Defence said in a filing to BSE that the latest order to build a training ship is under the “buy Indian category” of ministry of defence and was awarded on a competitive basis.
Mumbai: Ship maker Pipavav Defence and Offshore Engineering Co. Ltd on Monday said the company had been declared the lowest bidder by the Indian Coast Guard for construction of one training ship worth Rs.221 crore. Last year, the company had emerged as the lowest bidder for the design and construction of 14 fast patrol vessels worth Rs.920 crore.
The training ship is intended to provide basic sea training to all Coast Guard (ministry of defence) personnel and is a one of its kind having integral helicopter, capable of operations in all maritime zones of India. Pipavav Defence said in a filing to BSE that the latest order to build a training ship is under the “buy Indian category” of ministry of defence and was awarded on a competitive basis.
Securing contracts to build warships has emerged as an option for local shipyards seeking to navigate through the global downturn in the industry. The navy and the Indian coast guard have lined up projects worth at least Rs.50,000 crore in the next 10-15 years to patrol the country’s coastline that stretches over 7,400km, according to the defence ministry. The government is also focusing on enhancing local defence production with private participation.
ABG Shipyard Ltd, India’s largest shipbuilder outside state control, and Bharati Shipyard Ltd are among the other Indian companies that have already entered into the race for securing defence contracts.
In November, Mint had reported that Pipavav Defence is in talks with a European company to raise $100-150 million by selling a minority stake, and if the deal fructifies, Pipavav Defence may drop its plan to list the company on the London Stock Exchange (LSE).
Pipavav Defence said in a filing to BSE that the latest order to build a training ship is under the “buy Indian category” of ministry of defence and was awarded on a competitive basis.
Mumbai: Ship maker Pipavav Defence and Offshore Engineering Co. Ltd on Monday said the company had been declared the lowest bidder by the Indian Coast Guard for construction of one training ship worth Rs.221 crore. Last year, the company had emerged as the lowest bidder for the design and construction of 14 fast patrol vessels worth Rs.920 crore.
The training ship is intended to provide basic sea training to all Coast Guard (ministry of defence) personnel and is a one of its kind having integral helicopter, capable of operations in all maritime zones of India. Pipavav Defence said in a filing to BSE that the latest order to build a training ship is under the “buy Indian category” of ministry of defence and was awarded on a competitive basis.
Securing contracts to build warships has emerged as an option for local shipyards seeking to navigate through the global downturn in the industry. The navy and the Indian coast guard have lined up projects worth at least Rs.50,000 crore in the next 10-15 years to patrol the country’s coastline that stretches over 7,400km, according to the defence ministry. The government is also focusing on enhancing local defence production with private participation.
ABG Shipyard Ltd, India’s largest shipbuilder outside state control, and Bharati Shipyard Ltd are among the other Indian companies that have already entered into the race for securing defence contracts.
In November, Mint had reported that Pipavav Defence is in talks with a European company to raise $100-150 million by selling a minority stake, and if the deal fructifies, Pipavav Defence may drop its plan to list the company on the London Stock Exchange (LSE).
