Mazagon Dock Shipbuilders Limited has received a new order worth about ₹1990 crore from the Defense Ministry. This contract has been awarded for the manufacturing and integration of Air Independent Propulsion (AIP) Plug. This information was given in a statement issued by the Defense Ministry on December 30.
However, the company’s shares fell by 1.84% today. The stock ended the day at ₹2266.25 on BSE.
Mazagon Dock Stock Performance
- Market cap: ₹91,415 crore.
- 52-week high: ₹2,929.98.
- 52-Week Low: ₹898.55.
- Returns by 2024: The stock has given a strong return of 98% so far this year.
Details of order worth ₹1990 crore
- Objective of the project:
- Manufacturing of AIP plug and integrating it into Scorpene submarine.
- This technology will increase the endurance of conventional submarines.
- Will contribute to India’s Self-reliant India initiative.
- First Submarine:
- The Navy will include this system during the refit of the first submarine in 2025.
Specialty of AIP technology
- Will increase endurance:
- AIP enables diesel-electric submarines to operate underwater for long periods of time without surfacing.
- No need of oxygen:
- This technology gives submarines the ability to operate without atmospheric oxygen, without coming to the surface.
- Technological Development:
- It has been developed by DRDO in collaboration with L&T and Thermax.
Government initiatives and other contracts
- Manpower Creation:
- This project will generate employment of about three lakh man-days.
- Contract with France’s Naval Group:
- A separate contract worth ₹877 crore was awarded to integrate Electronic Heavy Weight Torpedoes (EHWT) into Kalvari-class submarines.
- This will increase the fire power capability of these submarines.
- Signing Ceremony:
- Both the contracts were signed in New Delhi in the presence of Defense Secretary Rajesh Kumar Singh.
