Top companies

ASIANPAINT - 2282.35 (-0.41%) AXISBANK - 1071.85 (-3.34%) BAJAJFINSV - 1569.65 (-1.25%) BAJFINANCE - 6848.25 (-1.02%) BHARTIARTL - 1578.1 (-1.39%) BPCL - 289.05 (-1.87%) COALINDIA - 382 (-2.54%) HDFCBANK - 1771.5 (-1.23%) HEROMOTOCO - 4339.95 (-1.52%) HINDUNILVR - 2333.9 (-1.1%) ICICIBANK - 1288.4 (0.12%) INDUSINDBK - 929.45 (-3.62%) ITC - 464.65 (-0.41%) KOTAKBANK - 1743.55 (-1.05%) MARUTI - 10901.05 (-0.5%) ONGC - 237.1 (-1.96%) RELIANCE - 1205.3 (-2.04%) SBIN - 812 (-2.5%) TATAMOTORS - 724.05 (-2.69%) TATASTEEL - 140.68 (-1.8%) TCS - 4170.3 (-2.38%) TITAN - 3356.25 (-0.02%) WIPRO - 305.2 (-2.41%)
TRENDING #BANK NIFTY 149 #ADANIPORTS 86 #ZOMATO 72

Defence ministry likely to clear Rs 70,000-cr warship order for naval forces: Report

18 Jul , 2024   By : Debdeep Gupta


Defence ministry likely to clear Rs 70,000-cr warship order for naval forces: Report

In a significant development for India's naval capabilities, the defense ministry is poised to approve a monumental Rs 70,000-crore order for warships, reported The Economic Times. These stealth frigates, set to be the most advanced ships built in India, represent a continuation of the Nilgiri class currently under construction.


According to sources cited by ET, Mazagon Dockyards Limited (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) are leading contenders for the project, classified as Project 17B. Notably, these yards are already involved in the ongoing construction of frigates under Project 17A. MDL is engaged in producing four frigates, while GRSE is handling an order for three.


While specifics await confirmation after the defense ministry's clearance, insiders suggest the possibility of splitting the order between the two yards, mirroring the approach taken with Project 17A. Such a division is anticipated to accelerate delivery timelines crucial for the Navy's operational readiness.


The upcoming frigates are expected to feature extensive indigenous components, including locally developed fire control systems, Brahmos cruise missiles, anti-submarine weapons, and cutting-edge electronic warfare systems. This order is poised to invigorate numerous sub-suppliers and vendors who stand to benefit significantly from the project's extensive subcontracting opportunities.


MDL, renowned as one of India's premier shipyards, boasts an impressive order book, further bolstered by ongoing projects such as the Kalvari class submarines and Project 15B class destroyers. Additionally, the yard is on the verge of finalizing a contract for three additional Kalvari class submarines this fiscal year, estimated at approximately Rs 35,000 crore. These advanced submarines will surpass the capabilities of the existing six Kalvari class vessels constructed by MDL.


GRSE, based in Kolkata, is concurrently engaged in the construction of next-generation offshore patrol vessels and anti-submarine warfare corvettes. The yard has also made significant strides in securing export orders, underscoring its growing stature in the global maritime industry.

0 Comment


LEAVE A COMMENT


Growmudra © 2024 all right reserved

Partner With Us