Pipavav bags Rs 920 crore Coast Guard order

Issue: 5 / 2013 November 6, 2013 By SP's Special Correspondent Photo(s): By ICG

After being declared lowerst bidder last week, private shipbuilder Pipavav Defence and Offshore Engineering Co. Ltd is poised to win a Rs 920 crore deal to supply design and build 14 new generation fast patrol vessels (FPVs) for the Indian Coast Guard.

The company had won a contract worth nearly Rs 3,000 crore in 2011 to build new generation offshore patrol vessels for the Indian Navy. The fresh win bolsters its position in the Indian market and positions the company as a formidable challenger to state-owned yards like Goa Shipyard Ltd and GRSE. In July this year, after almost two years in limbo, a joint venture between Pipavav and state-owned Mazagon Docks Ltd (MDL) was cleared by the Ministry of Defence.