Mazagon Dock, ThyssenKrupp to sign agreement for advanced submarine projectMAZDOCK - 2192 Change: 6.95 (0.32 %)
News: Mazagon Dock Shipbuilders (MDL) and German shipbuilder ThyssenKrupp Marine Systems (TKMS) are expected to sign an agreement for building six advanced submarines for the Indian Navy under a Rs 45,000 crore Project 75-I programme. These submarines will be powered by a new technology called air-independent propulsion (AIP). MDL-TKMS combine will be competing in Project 75-I with Larsen & Toubro (L&T) that is partnering with Spanish shipbuilder, Navantia. The last date of bids submission for this project is August 1, 2023.
Views: As the strategic foreign partners have been finalised by MDL and L&T, the process of Project 75-I is now expected to pick up fast after a delay of many years as the Indian Navy and government will place an order for six submarines post evaluation of bids. However, as per the MDL management, it will take 12-18 months for order placement. Moreover, the project cost of Rs 45000 crore is also expected to be revised upwards. We believe there is also a possibility of increase in number of submarines under this project from six to nine as Indian Navy and the government have been planning to order three additional conventional submarines with AIP.