A day after bagging the Rs 920 crore order to build 14 fast patrol vessels for the Indian Coast Guards, Reliance Defence and Engineering Ltd (RDEL) on Thursday announced winning another Rs 300 crore order for undertaking refit works for three Indian Navy vessels.
“Through a competitive bidding process (where four bidders from PSU and Private Sector participated), RDEL said it has been awarded the Contracts for refitting of three vessels including Jamuna, INS Deepak and INS Savitri.
Other bidders in the fray included Hindustan Shipyard Limited, Cochin Shipyard Limited and L&T.
Reliance Deefence said this is the largest refit order to any Private Sector Company.The refit activities are expected to be completed by April 2017 with the first refit (INS Jamuna) getting completed shortly, the company said.
This apart, RDEL is also in the process of building 5 Naval Offshore Patrol Vessels (NOPV) for the Indian Navy, worth Rs 2500 Cr, These will be the first ever warships to be constructed at a Private Sector Shipyard. These vessels will be carrying out offshore patrolling, ocean surveillance, monitoring of sea lanes of communications, escorting high value ships and other Fleet Support Operations.
RDEL is all set to deliver the five NOPVs in 2017. The NOPVs are being constructed at PDOC simultaneously. RDEL operates India’s largest dry dock of 662 m length and 65 m width. The shipyard has the only modular shipbuilding facility with capacity to build fully fabricated and outfitted blocks prior to their erection in Dry Dock. The fabrication facility is spread over 2.1 million sq. ft. The shipyard has a pre-erection berth of 980 meters length and 40 meters width, and 2 Goliath cranes with combined lifting capacity of 1,200 tonnes, besides outfitting berth length of 780 meters.
In March 2015 Reliance Infrastructure together with its wholly owned subsidiary Reliance Defence Systems Private Limited, had agreed to acquire from the Promoters of Pipavav Defence approx. 18% shareholding in the Company at a price of Rs. 63 per Share, aggregating Rs. 819 crore. This was followed by an open offer. Post open offer, Reliance Infra now owns almost 35% in the company.
Later on Pipavav Defence also announced its plans to exit the corporate debt restructuring (CDR) package as it would lead to improved financial flexibility and increased business opportunities for P-DOC. Pipavav Defence has since been renamed as Reliance Defence and Engineering Ltd. (RDEL).