Pipavav Defence bags inernational orders worth Rs 1,192 crore

Pipavav Defence and Offshore Engineering Company (formerly Pipavav Shipyard) said it has bagged two international orders worth Rs 1,192 crore from a West African client for building two offshore patrol

vessels.

This is the first international order for Pipavav, which has recently ventured into defence sector, the company said in a statement. It added that the contract also has the option to increase the order to two more such vessels and has to be delivered in 32 months.

Pipavav, however, did not disclose the name of its client from whom it has secured the orders. "The contract value is pegged at Rs 1,192 crore with two option ships which can be exercised by the client within 24 months upon which the contract value may go up to Rs 2,504 crore," it said.

Reuters

The company further said it is negotiating for four numbers corvette type warships with a global major but did not disclose further. "One of the thrust areas of the company is to focus on foreign military sales to the friendly countries," the company said.

The offshore patrol vessels are a 95 meter long and are similar to five vessels for which the Ministry of Defence has placed orders with Pipavav last year, it added. The company further said after the order its current order book size has increased by 20 per cent, though did not reveal its total order book size.

PTI


Updated Date: Dec 20, 2014 10:59 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent