- 19 Jun 2024
- ICICI Securities
FINAL TRAILS FOR P-75I SUBMARINES EXPECTED BY JUNE END
MAZDOCK - 2711 Change: -21.30 (-0.78 %)News: As per the media sources, India will hold Project-75 India (P-75 I) submarine project trials at Navantia in Spain by June-end. Under P-75 I, Indian Navy will be procuring 6 advanced conventional submarines with an AIP (Air Independent Propulsion) system which would allow submarines to stay underwater for longer periods. L&T (with Spanish firm Navantia as a partner) and Mazagon Dock Shipbuilders (with German firm ThyssenKrupp Marine as a partner) are competing for this ~Rs 60000 crore project.
Views: We believe that the contract awarding process will pick-up fast post these trials after all the negotiations. The contract cost is expected to be ~Rs 60000 crore and will be awarded between Mazagon Dock and L&T. There has been a delay in this project considering the requirement of advanced capabilities of submarines. However, the process has picked up from the Indian Navy as they have recently completed the trails process at Thyssenkrupp Marine at Germany. Despite the foreign partners, Indigenous content would be more than 60% for these submarines.
Impact: Positive