Pi­pavav bags 920crore Coast Guard or­der


Af­ter be­ing de­clared low­est bid­der last week, pri­vate ship­builder Pi­pavav De­fence and Off­shore Engineering Co. Ltd is poised to win a ` 920-crore deal to sup­ply de­sign and build 14 new gen­er­a­tion fast pa­trol ves­sels (FPVs) for the In­dian Coast Guard.

The com­pany had won a con­tract worth nearly ` 3,000 crore in 2011 to build new-gen­er­a­tion off­shore pa­trol ves­sels for the In­dian Navy. The fresh win bol­sters its po­si­tion in the In­dian mar­ket and po­si­tions the com­pany as a for­mi­da­ble chal­lenger to state-owned yards like Goa Ship­yard Ltd and GRSE. In July this year, af­ter al­most two years in limbo, a joint ven­ture be­tween Pi­pavav and state-owned Mazagon Dock Ltd was cleared by the Min­istry of De­fence.

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