Larsen & Toubro bags order from Vietnam Border Guard for high speed patrol vessels

India Infoline News Service | Mumbai | September 22, 2016, 12:04 IST

The high-speed patrol vessels are purpose-built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling, and undertaking search and rescue missions.

Larsen & Toubro
Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard valued at USD 99.7 million for design and construction of high speed patrol vessels in India as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.

The high-speed patrol vessels are purpose- built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling, and undertaking search and rescue missions. Constructed of Aluminium alloy, the vessels are about 35 metres long and can clock a speed of 35 knots with a state-of-the-art navigation and surveillance equipment  and self-defence capabilities on board.

In keeping with the Government of India's Make in India policy, complete design and engineering of these vessels will be undertaken at L&T's dedicated Warship Design Centre with the vessels being built at L&T's state of the art Kattupalli Shipyard, off Chennai.

Commenting on the occasion,  Mr.  S. N. Subrahmanyan,  President and Deputy Managing Director of L&T said that the contract is a testimony to L&T's world-class technological capabilities. He also hoped for the contract to pave the way for stronger bilateral ties between India and Vietnam.

Earlier in 2015, a tender was floated by Vietnam 's Ministry of Defence for the Patrol Boats and six shipyards (L&T, MDL, GRSE, erstwhile Pipavav, ABG and PEC) from India participated in the bid. The MoD-Vietnam shortlisted three shipyards and undertook an extensive assessment of  their design and engineering capabilities, yard infrastructure, track record and financial health.  L&T qualified on all the parameters and was selected from among the six for the prestigious  export contract.

L&T is presently executing Indian MoD contracts for design and construction of 54   Interceptor Boats (1Bs) for Indian Coast Guard, out of which 28 1Bs have already been delivered with the last boat having been delivered two years ahead of schedule.  L&T is also executing orders for design and construction of seven Offshore Patrol Vessels for the Indian Coast Guard against a contract of Rs.1432 Crore and a Floating Dock for the Indian Navy with a contract value of Rs.468 Crore.

***Note: This is a NSE Chart

 

Advertisements

  • Get your free IIFL Demat & Trading A/c now...Click here
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.