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India : Cochin Shipyard Ltd wins Rs 5,400 crore deal from Navy
Publish Date : 16-Oct-2017
India's major shipbuilder, the Cochin Shipyard Ltd (CSL), has secured a deal from the Navy to build eight shallow water anti-submarine vessels at an estimated Rs 5,400 crore.
According to officers, CSL submitted the lowest bid for the tender floated by the Ministry of Defence.
They said the maiden vessel will be delivered in 42 months, while the rest of vessels will be delivered at the rate of two vessels every year.
Moreover, CSL is also building India's first indigenous aircraft carrier for the Navy.The contract to build eight shallow water anti-submarine vessels is the first major deal for CSL after its highly successful initial public offering (IPO) in August.
