Fruitful Week for Pipavav Defence (India)

India’s Pipavav Defence and Offshore Engineering Company Ltd has today informed the Bombay Stock Exchange that it has won a contract for maintaining and dry docking of deep water draft oil rigs amounting to Rs. 255 Crore (USD37,6 million).

The company did not reveal the name of the client in its press release but added that it was in negotiations with several large oil & gas players globally to enter into long term contracts for building, conversion, maintaining and dry docking of equipment vital for the energy security.

Also, Pipavav last week announced it won an order to construct two specialised offshore vessels for a European client. The value of the contract is Rs. 1,160 Crore (USD 194 million).