Defence Ministry signs Rs 53,866.50 crore contracts for eight Navy corvettes
Garden Reach Shipbuilders & Engineers and Goa Shipyard Limited will build the Next Generation Corvettes under an indigenous design project.
The Ministry of Defence on Monday signed contracts worth Rs 53,866.50 crore with Garden Reach Shipbuilders & Engineers Limited (GRSE) and Goa Shipyard Limited (GSL) to acquire eight Next Generation Corvettes (NGCs) for the Indian Navy, according to The Economic Times.
Under the agreement, GRSE is tasked with building five corvettes, while GSL will build the other three.
The central government stated in a press release that this is the first project where the Indian Navy will indigenously design the ships and have them built by Defence Public Sector Undertakings (DPSUs) chosen through a competitive process.
The NGCs will feature advanced sensors, weapons, and missiles to operate across air, surface, and sub-surface domains for missions such as anti-submarine warfare and coastal defence.
The project is expected to create about 72 lakh person-days of work in shipyards and 460 lakh person-days in MSMEs and ancillary industries over the next decade.
The initiative aims to support the Make-in-India programme by using domestic materials, technologies, and expertise to strengthen the shipbuilding ecosystem.