Indian Navy awards contract to Pipavav Shipyard
Asian Defence & Diplomacy Neelam Mathews June 12, 2011 India 's largest shipbuilder by market capitalization, private Pipavav Shipyard Ltd. (PSL) has won an order from the Indian Navy valued at around $660million to build five naval gunboats and offshore patrol vessels. Pipavav Shipyard has become the first to receive a warship production license from the Indian government "Increasing focus of government of India on indigenisation of defence production will propel private participation in this segment," the firm said in a presentation to investors. Covering over 200 hectares with approximately 720 m of sea front and 685 m of outfit quay, PSL has one of the largest drydocks in the world. Tw...