MOU
HSL BHEL and MIDHANI Sign MoU to Build Submarines
Visakhapatnam: Indigenous construction of six conventional submarines as part of the project 75 (I) has been envisaged by the Ministry of Defence under the strategic partnership model. In a strategic move, Hindustan Shipyard Limited (HSL), Bharat Heavy Electricals Limited (BHEL) and Mishra Dhatu Nigam Limited (Midhani) have come together to form a consortium for building submarines.
Representatives of HSL, BHEL and Midhani signed an MoU in this regard in the presence of Rear Admiral (Retd) L.V. Sarat Babu, CMD, HSL on 24 May 2019. The agreement among the three organisations is a step towards supporting Make in India initiative.
According to a press release, the consortium will jointly stake claim with the Ministry of Defence for being considered a prospective bidder for the proposed P-75 (I) project of the Navy in partnership with OEM (foreign technology provider) for building six submarines at Hindustan Shipyard Limited.
Read Also : PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
News Must Read
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station
- REC Ltd. has incorporated subsidiary company BPTL
- Hon’ble Vice President of India Confers `Outstanding PSU of the Year’ Award on HAL
- BharatPe Launches India’s first All-in-One Payment Device
- NBCC registers historical Performance in FY2023-24
- RuPay Unveils Link it, Forget it Campaign at IPL 2024 to Promote RuPay Credit Card on UPI
- NTPC Green Energy Limited Inks MoU with Indus Towers Limited
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024