Mazagon Dock Secures ONGC Contract
OIL & GAS

Mazagon Dock Secures ONGC Contract

Contract Award: Mazagon Dock Shipbuilders Limited has secured a significant contract worth ?1,486 crore from Oil and Natural Gas Corporation (ONGC). The contract involves the construction and supply of offshore support vessels.

Project Scope: The contract includes building specialized vessels designed for offshore operations. These vessels will support ONGC’s activities in the oil and gas sector, enhancing operational efficiency and capabilities.

Share Price Impact: Following the announcement of the contract, Mazagon Dock’s share price experienced a notable increase. The market response reflects positive investor sentiment and confidence in the company’s growth prospects.

Strategic Importance: Securing this contract is a strategic move for Mazagon Dock, reinforcing its position as a key player in the shipbuilding industry. It underscores the company’s capabilities in delivering high-value projects in the offshore sector.

ONGC’s Role: ONGC, India’s largest oil and gas exploration company, is a major client for Mazagon Dock. This contract highlights ONGC’s ongoing investment in enhancing its offshore operations and infrastructure.

Company Background: Mazagon Dock Shipbuilders is a leading shipbuilding company in India, specializing in the construction of naval ships, submarines, and offshore vessels. The company is known for its expertise and track record in delivering complex maritime projects.

Contract Award: Mazagon Dock Shipbuilders Limited has secured a significant contract worth ?1,486 crore from Oil and Natural Gas Corporation (ONGC). The contract involves the construction and supply of offshore support vessels. Project Scope: The contract includes building specialized vessels designed for offshore operations. These vessels will support ONGC’s activities in the oil and gas sector, enhancing operational efficiency and capabilities. Share Price Impact: Following the announcement of the contract, Mazagon Dock’s share price experienced a notable increase. The market response reflects positive investor sentiment and confidence in the company’s growth prospects. Strategic Importance: Securing this contract is a strategic move for Mazagon Dock, reinforcing its position as a key player in the shipbuilding industry. It underscores the company’s capabilities in delivering high-value projects in the offshore sector. ONGC’s Role: ONGC, India’s largest oil and gas exploration company, is a major client for Mazagon Dock. This contract highlights ONGC’s ongoing investment in enhancing its offshore operations and infrastructure. Company Background: Mazagon Dock Shipbuilders is a leading shipbuilding company in India, specializing in the construction of naval ships, submarines, and offshore vessels. The company is known for its expertise and track record in delivering complex maritime projects.

Next Story
Infrastructure Urban

Andhra Pradesh to Develop 30,000 Women-Led Enterprises by 2025

The Municipal Administration and Urban Development (MAUD) Department is accelerating efforts to create sustainable livelihoods for women in urban areas, in line with Chief Minister Nara Chandrababu Naidu’s goal of fostering one lakh women entrepreneurs by 2025. Under this initiative, the MAUD Department has set a target to establish 30,000 women-led enterprises across towns and cities in Andhra Pradesh. To support this vision, the department plans to establish Micro, Small & Medium Enterprises (MSMEs) for women in TIDCO housing complexes. Vacant plots across 163 colonies have been earmarked ..

Next Story
Infrastructure Energy

G Kishan Reddy discusses mining expansion, clearances with Chhattisgarh CM

Coal and Mines Minister G Kishan Reddy met Chhattisgarh CM Vishnu Deo Sai on Friday to expedite land acquisition and environmental clearances for mining projects. Reddy, who was on a two-day visit to review operations at South Eastern Coalfields Ltd (SECL), discussed measures to boost mining-led economic growth in the state. Key topics included speeding up land acquisition for mine expansions, obtaining quicker environmental approvals, and setting up integrated rehabilitation and resettlement sites. The minister also highlighted the importance of developing critical minerals in the region, alo..

Next Story
Infrastructure Urban

NITI Aayog's Vision for India's Auto Industry

NITI Aayog has launched the report titled "Automotive Industry: Powering India’s Participation in Global Value Chains," offering a roadmap for the country’s automotive future. Released by Shri Suman Bery, Vice Chairman, the report outlines key strategies to grow India’s automotive sector to $145 bn in component production by 2030. India is currently the fourth-largest automobile producer globally, but with only a modest three per cent share in the global automotive component market. The report emphasises the need to strengthen India’s position through competitive manufacturing, skill d..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?