Mazagon Dock bags ₹1990 Crore contract from Defence Ministry

31 Dec 2024 , 02:19 PM

On Monday (December 30), the Ministry of Defence (MoD) announced the signing of two contracts for ₹2,867 Crore to upgrade the operating capabilities of Indian submarines. The agreements were signed in New Delhi on December 30, 2024, in the presence of Defence Secretary Rajesh Kumar Singh.

The first contract, worth ₹1,990 Crore, was signed with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai, for the fabrication of an air-independent propulsion (AIP) plug using DRDO technology.

The AIP plug will be fitted into Indian submarines, considerably increasing their underwater endurance. This project also corresponds with the ‘Aatmanirbhar Bharat’ initiative, which will generate an estimated three lakh man-days of employment.

The second deal, costing ₹877 Crore, was inked with Naval Group, France, for integrating an electronic heavy weight torpedo (EHWT) system developed in partnership with DRDO into the Kalvari class submarines. This improvement will significantly boost the firepower capability of these submarines.

The integration of EHWT will be a collaborative endeavor between the Indian Navy, DRDO, and Naval Group, France. It would significantly increase the firepower capabilities of the Indian Navy’s Kalvari class submarines.

At around 10.04 AM, Mazagon Dock Shipbuilders was trading 1.99% lower at ₹2,223.90 per piece, against the previous close of ₹2,269.05 on NSE. The counter touched an intraday high and low of ₹2,369.95, and ₹2,214.40, respectively.

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