- 18 Jul 2024
- ICICI Securities
DEFENCE MINISTRY SET TO CLEAR RS 70,000 CRORE FRIGATES PROJECT
MAZDOCK - 2661 Change: -56.60 (-2.08 %)News: As per the media sources, the defence ministry is set to give an approval for ~Rs 70,000 crore P-17B project of new generation frigates warships for the Indian Navy. The stealth frigates will be the most advanced ships to be built in India and are a follow-on of the P-17A (Nilgiri class) that are currently under construction.
Views: Mazagon Dock Shipbuilders (MDL) and Garden Reach Shipbuilders and Engineers (GRSE) are the frontrunners for the P-17B contract. Post the AoN, the contract will be placed after tendering and negotiations. This contract is also expected to be split between MDL & GRSE as in the case of P-17A contract of 7 frigates which was awarded in 2015 (where MDL is executing 4 frigates while GRSE is executing 3). As the P-17B frigates will have higher indigenous content and will be more advanced in terms of weapons and electronic warfare systems, other companies like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns will also be involved in frigate ship-building.
Impact: Positive