Cochin 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