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Pipavav shipyard forays in to defence sector with $552m naval contract

Pipavav shipyard forays in to defence sector with $552m naval contract

Mumbai: Gujarat-based Pipavav Shipyard has secured a contract worth an estimated $552m (Rs 2,600-crore) for the construction of five offshore patrol vessels for the Indian Navy - marking its entry in to the defence sector. This contract boosts the yard's order book to over Rs 7,000 crore.

"We have been declared as the lowest bidder by the ministry of defence (MoD) for contract to build off-shore patrol vessels (OPVs) for the Navy. This will be our maiden foray into building ships for the defence sector,"  a spokesperson told the Economic Times. "These vessels will be fitted with a 76 mm gun. They will be about 110 meters in length, will have a displacement of about 2,000 tonne and will have a maximum speed of 20 knots".  [08/06/10]

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