In a significant stride towards bolstering India's maritime security, the Ministry of Defence on Wednesday (January 24) inked a contract worth ₹1,070.47 crore with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai. The agreement outlines the acquisition of 14 fast patrol vessels (FPVs) destined for service with the Indian Coast Guard (ICG).
Under the agreement, these multi-role FPVs will be meticulously designed, developed, and manufactured by MDL in adherence to the buy (Indian-IDDM) category. The vessels are slated to be delivered within a timeline of 63 months, marking a crucial step in enhancing the ICG's operational capabilities, Mazagon Dock Shipbuilders said in a regulatory filing.
Equipped with state-of-the-art features and advanced technology, the FPVs will house multipurpose drones, wirelessly controlled remote water rescue craft lifebuoy, and artificial intelligence capabilities. This strategic integration aims to provide the ICG with heightened flexibility and operational advantages in confronting contemporary multidimensional challenges.
The FPVs are set to play a pivotal role across various maritime operations, including fisheries protection and monitoring, control and surveillance, anti-smuggling endeavours, search and rescue operations in shallow waters, assistance to distressed ships/craft, towing capabilities, and monitoring during marine pollution response operations.
Additionally, the vessels will actively engage in anti-piracy operations, fortifying India's maritime security apparatus, Mazagon Dock Shipbuilders said.
The acquisition aligns with the government's emphasis on Atmanirbhar Bharat (self-reliant India), reflecting a commitment to indigenous shipbuilding capabilities. The move is poised to boost maritime economic activities and stimulate the growth of ancillary industries, particularly benefiting the MSME sector.
In December last year, Mazagon Dock Shipbuilders signed a contract with the Ministry of Defence worth ₹1,600 crore. The contract pertains to the construction and delivery of six next-generation offshore patrol vessels for the Indian Coast Guard. Mazagon Dock is supposed to deliver the first vessel within 41 months and the subsequent ones at intervals of five months.
The company on December 15 had signed a contract with a European client worth $42 million. The contract pertained to the construction of three units of 7,500 DWT multi-purpose hybrid power vessels. On December 11, 2023, the company also announced an order win worth $1,142 crore from ONGC for part replacement of a pipeline on a turnkey basis.
Shares of Mazagon Dock Shipbuilders Ltd ended at ₹2,325.35, up by ₹36.05, or 1.57% on the BSE.
