Cochin Shipyard to get orders worth Rs 10,000 crore to build missile vessels for Indian Navy
Cochin Shipyard has emerged as the lowest bidder for a Rs 10,000-crore contract by the Indian Navy, to build Next Generation Missile Vessels. The state-owned company has emerged as a forerunner in the Indian shipbuilding and ship repair industry that can build and repair the largest vessels in India.
Incorporated in 1972, CSL can build ships up to 1,10,000 dead weight tonnage (DWT) and repair ships up to 1,25,000 DWT.
The yard has delivered two of India’s largest double hull Aframax tankers each of 95,000 DWT.
“At the meeting held today (February 23) at the Ministry of Defence, New Delhi, Cochin Shipyard Ltd (CSL) has been declared as L1 (the lowest bidder) in the tender floated by the Indian Navy for construction of six…Next Generation Missile Vessels (NGMV),” CSL said in a regulatory filing to the BSE.
The estimated order value is around Rs 10,000 crore, the company said. These Next generation missile Corvettes have been planned for anti surface warfare armed with BRAHMOS and other land attack and anti ship missiles.These Corvettes will have stealth, low RCS low infrared, magnetic and acoustic signatures.
The Corvettes will be around 3000 ton with speed of 35 knots and around 10 days endurance.The personnel strength will be below 100 all ranks. RFI for these vessels was issued by the MoD in 2015.
It said the final announcement of the contract will be subject to the satisfactory completion of necessary formalities in this regard, which will be updated in due course.
CSL has secured shipbuilding orders from internationally renowned companies from Europe and Middle East. It has now nearly completed the country’s first indigenous air defence ship which soon will be commissioned as INS VIKRANT.