Pipavav Defence wins global naval deal

[Damadji]

Pipavav Defence wins global naval deal


Bangalore: Pipavav Defence and Offshore Engineering Co. Ltd said on Monday that it received an order from a West African nation to build two offshore patrol vessels worth a combined Rs. 1,192 crore, marking its first international naval contract.

The contract value would go up to Rs. 2,504 crore if the client exercises an option for two more similar ships, Pipavav Defence said in a filing to the Mumbai Stock Exchange.

In 2011, India’s defence ministry had placed orders with Pipavav for five similar offshore patrol vessels.

“One of the thrust areas of the company is to focus on foreign military sales to friendly countries,” a company spokesman said, adding that it was negotiating an order for four so-called corvette type warships with a global company.

In July, Pipavav Defence signed a shareholders agreement with state-run shipbuilder Mazagon Dock Ltd for jointly constructing surface warships for the Indian Navy.

Pipavav Defence wins global naval deal - Home - livemint.com

The deal is of US$ 250 million and will go to US$ 500 million with follow on order.

 

[dxxx]

geat good news for indian defense industry

 

[Water Car Engineer]

This will be something to watch. Lets see this company's performance.

 

[karan21]

Sweet. India's chainging, its happening right in front of us

 

[keerthan]

When pipapav will be delivering 1st offshore patrol vessel to Indian navy.
Then we can get clear picture of their expertise at building warships.a.
Anyways good going hope our navy also give some more orders to them.

 

[SpArK]

Pipavav bags two international orders worth Rs 1,192 crore

Pipavav Defence and Offshore Engineering Company (formerly Pipavav Shipyard) today 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.

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%, though did not reveal its total order book size.

 

[The A-5]

^^Are these the Saryu-class stealth OPVs?

 

[Raje amar]

best news for a Defence Private sector firm. good going.

hope more such orders follow to all private sector firms in India.

 

[Tshering22]

This is the map of west africa.

And from what we can deduce, Nigeria and Mauritania are the only two countries that can afford good military capabilities.

 

[westtowel]

Privatization does wonders.

 

[illusion8]

This is the map of west africa.

And from what we can deduce, Nigeria and Mauritania are the only two countries that can afford good military capabilities.

Ghana's OK as well, they have the biggest gold mines and diamond mines in Africa. But most of their earnings are in black.