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MDL inks pact with Department of Defence Production

Mumbai, July 4, 2017: Aimed at boosting its revenues, Mazagon Dock Shipbuilders Ltd (MDL), a Miniratna Schedule ‘A’ DPSU under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry, said a government release on Monday.

Updated:Thursday, July 6, 2017, 04:47

MDL inks pact with Department of Defence ProductionMumbai, July 4, 2017: Aimed at boosting its revenues, Mazagon Dock Shipbuilders Ltd (MDL), a Miniratna Schedule ‘A’ DPSU under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry, said a government release on Monday.

It also stated that the revenue from operations has been targeted at Rs 4,500 crore. Significant milestones to be achieved under Project 75 (Scorpene Submarines) and shipbuilding projects of 15B (destroyers) and 17A (frigates) also form part of the MoU.

Mazagon Dock Limited (MDL) is India`s prime shipyard. It manufactures warships and submarines for the Indian Navy and offshore platforms and associated support vessels for offshore oil drilling. It also builds tankers, cargo bulk carriers, passenger ships and ferries.

Source: IIFL.com

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