Pipavav Shipyard renames itself
Gujarat-based shipbuilder Pipavav Shipyard Limited (PSL) has changed its name from PSL to Pipavav Defence and Offshore Engineering Company Ltd.
By OUR BUREAU | Updated:
AHMEDABAD: In an attempt to become an integrated player in defence, oil and gas sector, Gujarat-based shipbuilder Pipavav Shipyard Limited (PSL) on Monday changed its name from PSL to Pipavav Defence and Offshore Engineering Company Ltd.
The Bhavnagar based shipbuilder told the Bombay Stock Exchange (BSE) that it intends to become an intergrated defence, oil and gas sector company and is in the process of bidding for two significant contracts for the Indian Army.
"The company is in discussions with two international defence majors to set up production facilities at Pipavav for the Indian Armed forces," it added.
The firm already has Rs 3,000 crore worth of orders to build naval warships for the Indian navy. It is also in the process of building one of the biggest dry docks in the world which will become a significant asset for the company's warship building programme.
The Bhavnagar based shipbuilder told the Bombay Stock Exchange (BSE) that it intends to become an intergrated defence, oil and gas sector company and is in the process of bidding for two significant contracts for the Indian Army.
"The company is in discussions with two international defence majors to set up production facilities at Pipavav for the Indian Armed forces," it added.
The firm already has Rs 3,000 crore worth of orders to build naval warships for the Indian navy. It is also in the process of building one of the biggest dry docks in the world which will become a significant asset for the company's warship building programme.
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