Cochin Shipyard Ltd. has locked in a major global deal, signing shipbuilding contracts with Denmark-based Svitzer for the construction of four fully electric ‘TRAnsverse 2600E' tugs, with an option for four more, as per an exchange filing on Saturday.
The contract, finalised on Dec. 5, follows the Letter of Intent announced in October. The 26-metre electric tugs, each with a 70-ton bollard pull, will be built at CSL to Svitzer's global fleet renewal specifications. Deliveries are slated to begin from late 2027. Based on its value, the project falls under CSL's ‘Significant' order category, in the range of Rs 250-500 crore.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
CSL said the partnership blends Svitzer's expertise in advanced, sustainable towage operations with its own shipbuilding strength and local innovation capabilities.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The deal supports India's push to position itself as a global maritime manufacturing and skills hub under Maritime India Vision 2030, Maritime Amrit Kaal Vision 2047, and the Make in India initiative.
The company clarified that none of the promoter group entities have any interest in the awarding entity and that the contract does not fall under related-party transactions.
Cochin Shipyard‘s share price ended 0.24% higher at Rs 1,644.30 apiece on Friday, as compared to a 0.59% advance in the benchmark Nifty 50.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
