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Mazagon Dock seals $42 Million deal with European partner for trio of vessels
Image courtesy: facebook.com/MazagonDockShipbuildersLtd

Mazagon Dock seals $42 Million deal with European partner for trio of vessels

| @indiablooms | 15 Dec 2023, 09:49 pm

Mumbai: Mazagon Dock Shipbuilders Ltd revealed on December 15 that it has secured a $42 million deal with a European client for the construction of three multi-purpose hybrid-powered vessels.

"This is to inform that Mazagon Dock Shipbuilders Limited (MDL) has signed individual Shipbuilding Contracts with the European client for the construction of three (03) units of 7,500 DWT Multi-Purpose Hybrid Powered Vessels on December 14, 2023, for a value of approximately $42 million," the company said in a regulatory filing.

The agreement involves the design, construction, and delivery of three cutting-edge vessels with a deadweight tonnage of 7,500 each, with an approximate total contract value of $42 million.

The first vessel is slated for delivery 27 months from the contract's commencement, followed by successive vessels at two-month intervals.

The letter of intent (LOI) for this arrangement was initially disclosed in October.

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