HSL to Tie Up with Adani for Building Submarines

VISAKHAPATNAM: Hindustan Shipyard Limited has submitted Expression of Interest (EoI) to build six submarines under P75 (India) for Indian Navy in collaboration with Adani Defence System and Technologies Ltd, an Adani Group company and a subsidiary of Adani Enterprises Ltd.

Addressing media persons, HSL CMD Rear Admiral L Sarat Babu (Retd) said here on Saturday that the HSL was in the process of formation of a joint venture (JV) with Adani Defence System and Technologies Ltd with the approval of Union government and NITI Aayog for Special Purpose Vehicle (SPV).

He said the SPV will submit its bid for construction of submarines and undertake construction if emerged as the lowest bidder. There are other bidders for the project — L&T, Mazagon dock, and Reliance.

Babu said HSL had to tie up with Adani to overcome financial qualification for participating in the bid though it met technical and infrastructure parameters.

He said as part of the capability enhancement HSL has signed a comprehensive MoU with United Shipbuilding Corporation (USBC) of Russia to provide technical and logistics support for works such as refits and upgrades.

He said constructing 1,184 missile tracking ocean surveillance vessels was its prestigious project. Already sea trials of the vessels were successfully completed and the project may be ready by the year-end. The HSL CMD said the shipyard has been nominated for construction of five fleet support ships (FSS) and the project cost is around Rs 9,045 crore.

Anadolu Shipyard of Turkey has been finalised as the design collaborator for the FSS project in the global tender floated by shipyard.

The agreement will be signed in 2019-20. The HSL is floating a global tender for finalising the design collaborator for constructing two special operation vehicles to be built at a cost of Rs 5,000 crore.

Source: NIE

Image Courtesy: NavyRecognition