MDL Signed the Memorandum of Understanding for the Financial year 2017 and 18 with the Ministry

MDL Signed the Memorandum of Understanding for the Financial year 2017 and 18 with the Ministry

Mumbai: Mazagon Dock Shipbuilders Limited (MDL), a Miniratna Schedule ‘A’ DPSU under the Department of Defence Production, Ministry of Defence, Govt of India, signed the Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry. The annual MoU was signed by Shri A K Gupta, IAS, Secretary, Defence Production, Govt of India, on behalf of the Ministry of Defence and Cmde Rakesh Anand, CMD, MDL. The MoU outlines targets and various performance parameters for the company. 

The revenue from operations has been targeted at 4500 crore. The first submarine of Scorpene class, Kalvari will be delivered to the Indian Navy in Aug 2017, while the second submarine Khanderi, will be delivered in Jan 2018. Production of second frigate of Project 17A class has been scheduled to commence during FY 2017-18. 
 

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