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Tuesday, March 04, 2008
Pipavav Shipyard plans to build submarines for Indian Navy
Pipavav Shipyard Limited
India’s newest private sector shipbuilder, Pipavav Shipyard Ltd, plans to build vessels for the country’s navy at its facility in Gujarat in western India, making it the second private firm in the country, after Larsen and Toubro Ltd (L&T), to venture into this business.
India will invest more than Rs50,000 crore over the next 15-20 years to build 24 submarines by 2025-30, spending $14-16 billion (Rs56,420- 64,480 crore).
Defence venture: L&T’s shipbuilding yard in Hajira. Currently, L&T is the only licence holder for building warships in the private sector. The country has already signed a $3.5 billion deal with French firm DCNS, or Direction des Constructions Navales Services, in October 2005 to acquire six Scorpene-class submarines.
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