Cochin Shipyard Secures Lowest Bid for Indian Navy Ship Upgrade

Cochin Shipyard Ltd (CSL) has announced that it has been selected as the lowest bidder for the upgrade of an Indian Navy ship. The estimated cost of the project is approximately ₹300 crore, with a projected duration of around 24 months. In a communication from the Ministry of Defence, CSL was declared as L1 (lowest) by the Indian Navy for the MR/Mid Life Upgrade of the ship.

Established in 1972, CSL has the capability to construct ships up to 110,000 deadweight tonnage (DWT) and repair ships up to 125,000 DWT. The shipyard has a track record of delivering large double-hull Aframax tankers, each weighing 95,000 DWT, and has received shipbuilding orders from reputed international companies in Europe and the Middle East. Additionally, CSL has been chosen to construct India's first indigenous air defence ship.

Shares of Cochin Shipyard Ltd closed at ₹ 540.30, reflecting a decline of ₹ 4.40 or 0.81 per cent on the BSE (Bombay Stock Exchange).