MDL Moves Forward in P75(I) Project
DEFENSE

MDL Moves Forward in P75(I) Project

In a recent exchange filing, Mazagon Dock Shipbuilders Limited (MDL) confirmed that the commercial bid for the P75(I) project, which aims to enhance India's naval capabilities, has been opened by the Ministry of Defence for further processing. The company revealed that commercial negotiations for the project are underway.

MDL has been actively engaged in the construction of Scorpene-class submarines, with five completed and delivered to date. The sixth submarine is expected to be delivered soon. The company remains optimistic about securing additional orders for the project, with expectations to finalize contracts for three more submarines.

A significant upgrade for the project is the integration of the Air Independent Propulsion (AIP) system. This advanced plug allows submarines to remain submerged for up to three weeks, a substantial enhancement in the operational capability of conventional submarines. MDL anticipates a robust pipeline for retrofitting submarines with the AIP system.

In the competitive bid process, a joint proposal from Larsen & Toubro (L&T) and Spain's Navantia was reportedly disqualified based on the project’s criteria. The Defence Acquisition Council (DAC), chaired by the Defence Minister, is expected to meet soon to select the winning bidder for the project.

The P75(I) project is crucial to India's defense strategy, focusing on the construction of six advanced submarines with AIP systems. The initiative is seen as a key component in strengthening India's naval forces, particularly in the Indo-Pacific region where strategic security concerns are mounting.

MDL's shares have seen a positive surge, with a 3.6% increase, trading at ?2,372 (approximately $28.7) per share. The outcome of the P75(I) project evaluation could further influence investor confidence in the company.

In a recent exchange filing, Mazagon Dock Shipbuilders Limited (MDL) confirmed that the commercial bid for the P75(I) project, which aims to enhance India's naval capabilities, has been opened by the Ministry of Defence for further processing. The company revealed that commercial negotiations for the project are underway. MDL has been actively engaged in the construction of Scorpene-class submarines, with five completed and delivered to date. The sixth submarine is expected to be delivered soon. The company remains optimistic about securing additional orders for the project, with expectations to finalize contracts for three more submarines. A significant upgrade for the project is the integration of the Air Independent Propulsion (AIP) system. This advanced plug allows submarines to remain submerged for up to three weeks, a substantial enhancement in the operational capability of conventional submarines. MDL anticipates a robust pipeline for retrofitting submarines with the AIP system. In the competitive bid process, a joint proposal from Larsen & Toubro (L&T) and Spain's Navantia was reportedly disqualified based on the project’s criteria. The Defence Acquisition Council (DAC), chaired by the Defence Minister, is expected to meet soon to select the winning bidder for the project. The P75(I) project is crucial to India's defense strategy, focusing on the construction of six advanced submarines with AIP systems. The initiative is seen as a key component in strengthening India's naval forces, particularly in the Indo-Pacific region where strategic security concerns are mounting. MDL's shares have seen a positive surge, with a 3.6% increase, trading at ?2,372 (approximately $28.7) per share. The outcome of the P75(I) project evaluation could further influence investor confidence in the company.

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?