India's defence ministry puts Mazagon-Pipavav JV on hold

[MINK]

India's defence ministry puts Mazagon-Pipavav JV on hold

(Reuters) - India's defence ministry has decided to put on hold a joint venture between the state-run Mazagon Dock and private sector shipbuilder Pipavav Defence and Offshore Ltd , saying it would wait till a policy on JVs is put in place by the government.

Earlier this month, Pipavav Defence said it had formed an equal JV with Mazagon Dock to build submarines and warships, making the private firm eligible to execute part of Mazagon's orderbook of $21.2 billion. .

Defence Minister A.K. Antony said on Monday the ministry will study the complaints received from some private shipyards regarding the JV. He didn't elaborate on the nature of the complaints.

Antony, addressing a meeting of the consultative committee attached to his ministry, a release of which was put on the government's website, also said that JVs must compete for contracts and should not get them on nomination basis.

India's defence ministry puts Mazagon-Pipavav JV on hold | Reuters

 

[angeldemon_007]

Common people...what everyone is thinking ? Except Pipavav only LnT had chance now LnT is going to tie-up with Vizag which i think is more suitable tie as both of them have experience in submarine development. Bharti and other shipyards can tie-up with the remaining defence shipyards. This issue is only going to give us delays and funny thing is in the end no=one might get prosecuted.