Pipavav Defence and Offshore Engineering Company has announced that it has won two orders from foreign locations worth Rs 1,192 crore.
The company received the two orders from a client in West African region for building two offshore patrol vessels. The Indian company said in a statement that the order will be its first from abroad. Pipavav has not announced the name of the West African client. The offshore patrol vessels are 95 meter long.
It added that the contract has the possibility to extend the partnership for two more such vessels and that the company is required to deliver in 32 months. "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," The company said.
The Indian Ministry of Defence has placed orders with Pipavav for five offshore patrol vessels from the company during the previous year. The company said that its current order book size has increased by 20 per cent.
Pipavav also said that it is negotiating with a leading global company for four numbers corvette type warships. However, the company did not announce more details on the deal. The company only said that the deal involves foreign military sales to the friendly countries.
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