MDL To Build 3 7,500 DWT Multi-Purpose Hybrid Powered Vessels

Defense News - In a recent exchange filing, Mazagon Dock Shipbuilders Limited has inked Shipbuilding Contracts with a European client, marking a significant milestone. The agreement, formalized on December 14, 2023, entails the construction of three cutting-edge Multi-Purpose Hybrid Powered Vessels, each boasting a deadweight tonnage of 7,500 (DWT). The overall contract value for this endeavor is estimated to be approximately $42 million.

Mazagon Dock Shipbuilders, headquartered in Mumbai, shared insights into the comprehensive nature of the project, encompassing the entire spectrum of activities from design to construction and eventual delivery of these advanced vessels.

The execution timeline for the project is clearly defined, with the initial vessel set to be delivered 27 months from the effective date of the contract. Subsequent vessels are slated for delivery at two-month intervals thereafter.

Notably, Mazagon Dock Shipbuilders has witnessed a robust financial performance, with a 7.5 percent year-over-year increase in revenue, soaring from Rs 1,702 crore in Q2FY23 to Rs 1,828 crore in Q2FY24. Simultaneously, the net profit has experienced a remarkable surge of 56 percent, escalating from Rs 200 crore to Rs 313 crore during the same period.

The company has been actively investing in its modernization program, committing Rs 900 crore towards enhancing the building capacity for warships and submarines since 2014. Among its notable achievements is the development of Shore Integration Facilities (SIF) for Shipbuilding and Submarine Divisions, allowing for the integration and simulation of various systems and equipment prior to installation.

Furthermore, a strategic collaboration was initiated on October 21, 2022, as Mazagon Dock Shipbuilders partnered with Altair, a global leader in computational science and artificial intelligence (AI), to bolster multiple simulation areas. This collaboration builds on an existing relationship, as Mazagon Dock already leverages Altair solutions to fortify its ship design and engineering offerings.

With an impressive order book standing at Rs 37,500 crore, the company continues to attract new orders, securing contracts worth approximately Rs 350 crore for shipbuilding and carrier training ships.

Mazagon Dock Shipbuilders Limited, a key player in India shipbuilding landscape, has been a cornerstone in the defense sector. The company portfolio includes the construction of 801 vessels, encompassing 27 warships and 7 submarines. Notably, Mazagon Dock stands out as India sole shipyard dedicated to building destroyers and conventional submarines for the Indian Navy, underscoring its vital role in the country maritime capabilities.