Mazagon Dock Shipbuilders begins negotiations on Submarine Project with Indian Navy
The Central government gave clearance to the Ministry of Defence and Mazagon Dock Shipbuilders Ltd in August to begin negotiation for the deal to buy six submarines to be built in India with the support of German counterparts.
New Delhi: State-owned Mazagon Dock Shipbuilders Ltd. has announced through exchanges that it has commenced negotiations with the Indian Navy with respect to the Submarine Project-P75(I).
The Central government gave clearance to the Ministry of Defence and Mazagon Dock Shipbuilders Ltd in August to begin negotiation for the deal to buy six submarines to be built in India with the support of German counterparts.
In January 2025, initial negotiations have been commenced for the purchase-cum-manufacturing of six submarines designed by ThyssenKrupp Marine Systems in partnership with Mazagon Dock Shipbuilders, with approval from the MoD expected soon. The company anticipates finalizing the commercial and technical terms of the contract in July 2025.
Shares of Mazagon Dock are trading in the green zone at Rs 2,783.60, up by 1.04% at BSE.
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