INS Vikramaditya: Cochin Shipyard Limited (CSL) finalized a ₹1,207.5 crore agreement with the Ministry of Defence on November 30 for the Short Refit and Dry Docking of INS Vikramaditya.
The Indian Navy’s aircraft carrier, INS Vikramaditya, which has been in service since November 2013, will undergo this refit. Upon completion of the refit, the aircraft carrier will return to active duty with enhanced combat capabilities, according to an official release from the Defence Ministry.
The initiative supports India’s Atmanirbhar Bharat and Make in India programs, as noted in the official statement: “The project will provide a major boost to Government of India’s vision of Atmanirbhar Bharat and Make in India initiative.”
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The Ministry of Defence inks contract worth ₹1207 Cr with Cochin Shipyard Limited for Short Refit and Dry Docking of INS Vikramaditya
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It will involve about 50 small and medium businesses and create jobs for more than 3,500 people.
The project is valued at over ₹1,000 crore and is expected to take about five months to complete. Cochin Shipyard Limited (CSL) mentioned in its exchange filing, “The estimated contract value is above ₹1,000 crore and the estimated duration for the project is around 5 months.”
The Defence Ministry highlighted its importance, stating, “This project is an important step towards development of Cochin Shipyard Limited as Maintenance, Repair & Overhaul (MRO) Hub for supporting the industrial ecosystem of India.”
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CSL further clarified, “None of the promoter/ promoter group / group companies have any interest in the entity that awarded the order. Further, the said order also does not fall under the purview of related party transactions.”
