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Cochin Shipyard bags Indian Navy order for 6 Next Generation Missile Vessels

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Cochin Shipyard bags Rs 10,000 cr Navy orderCochin Shipyard Ltd (CSL) emerged as the Lowest Bidder in a tender floated by the Ministry of Defence for construction of 6 Next-Generation Missile Vessels (NGMV) to be utilized by the Indian Navy. The order is estimated to be around INR 10, 000 Crore.

  • NGMVs are a planned class of anti-surface warfare corvettes for the Indian Navy.
  • NGMVs will be armed with anti-ship or land attack missiles like Brahmos & Nirbhay.

Projects under progress in CSL

  • At Present, CSL is building India’s First Indigenous Aircraft Carrier called ‘INS Vikrant’ (also known as Indigenous Aircraft Carrier 1 (IAC-1)).
  • It has already delivered 2 of India’s Largest double hull Aframax tankers each of 95, 000 (Deadweight Tonnage).
  • CSL has also orders from renowned companies from Europe & Middle East for building ships.

Benefits of Indigenous ShipBuilding

Shipbuilding will be an important sector for making India a Five Trillion Dollar Economy by 2024.

Cochin Shipyard Ltd (CSL)

  • It was started in 1972 and has emerged as India’s largest shipbuilding & maintenance facility. CSL is a Public Sector Undertaking (PSU) and Miniratna company under the Ministry of Ports, Shipping & Waterways.
  • It is capable of Building ships up to 1, 10, 000 DWT & repair ships up to 1, 25, 000 DWT.

Recent Related News:

i.On October 27, 2020 Cochin Shipyard Limited and Fincantieri S.P.A. of Italy virtually signed a MoU for cooperation in the areas of Design, Ship Building, Ship Repair, Marine Equipment Manufacturing and also for Training & Skill Development.

About Cochin Shipyard Ltd (CSL):
Chairman & Managing Director – Madhu S Nair
Location – Cochin, Kerala