Defence Ministry signs Rs 53,866-crore contracts for eight Navy corvettes
Garden Reach Shipbuilders and Goa Shipyard will build the vessels designed indigenously by the Indian Navy.
The Ministry of Defence on Monday signed contracts worth Rs 53,866.50 crore with two state-run shipbuilders to build eight Next Generation Corvettes (NGCs) for the Indian Navy. According to Moneycontrol, the agreements were signed in the presence of Defence Secretary Rajesh Kumar Singh.
Under the terms of the deal, Kolkata-based Garden Reach Shipbuilders & Engineers Limited (GRSE) is tasked with building five corvettes. Goa Shipyard Limited (GSL) will be responsible for the construction of the other three vessels.
The Ministry of Defence stated that this is the first project where the Indian Navy will design the ships indigenously before they are built by Defence Public Sector Undertakings (DPSUs) chosen through competitive bidding. The vessels will feature advanced sensors, weapons, and missile systems to operate across air, surface, and sub-surface domains.
The project aims to improve coastal defence, maritime surveillance, and anti-submarine warfare capabilities. It is also intended to help protect maritime trade routes and support littoral combat missions.
The Ministry of Defence expects the construction process to generate approximately 72 lakh person-days of employment at shipyards over the next 10 years. An additional 460 lakh person-days of work are anticipated in MSMEs and ancillary industries during the same period.