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Pipavav Defence and Offshore Engineering Company Limited (Pipavav Defence) has bagged a contract to build two specialised offshore vessels for a European client.
The contract is valued at Rs 1,160 crore, and is to be delivered over the next 12 to 16 months.
With this, Pipavav Defence has crossed the $2 billion order book mark and is looking to close at least three more contracts in the Offshore and Naval segment during the next two quarters, it has said in statement to the BSE.
Pipavav Defence is the first yard in India to receive rigs from global giants like Transocean, ONGC and Noble among others. It has also received interest from the European investor for investment in the Company, subject to the approval by the Board, shareholders and required statutory approvals.
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