Larsen & Toubro (LET) has signed a$99.7 million project with Vietnam Border Guard to design and construct high speed patrol vessels in India.
The contract also envisages transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard. L&T won the tender which was floated back in 2015 by Vietnam’s Ministry of Defence, the company said in a statement Thursday.
The high-speed patrol vessels are purpose-built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling and undertaking search and rescue missions, said the company.
Constructed of Aluminium alloy the vessels are about 35 metres long and can clock a speed of 35 knots with a navigation and surveillance equipment and self-defence Capabilities on board, the company added.
Earlier in 2015, a tender was floated by Vietnam’s Ministry of Defence for the Patrol Boats and six shipyards (L&T, MDL, GRSE, Pipavav, ABG and PEC) from India participated in the bid. The MoD-Vietnam shortlisted three shipyards and undertook an extensive assessment of their design and engineering capabilities, yard infrastructure, track record and financial health. L&T qualified on all the parameters and was selected from among the six for the prestigious export contract.
L&T is presently executing Indian MoD contracts for design and construction of 54 Interceptor Boats (IBs) for Indian Coast Guard, out of which 28 IBs have already been delivered with the last boat having been delivered two years ahead of schedule. L&T is also executing orders for design and construction of seven Offshore Patrol Vessels for the Indian Coast Guard against a contract of Rs.1432 Crores and a Floating Dock for the Indian Navy with a contract value of Rs.468 Crores.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with USD 1.6 billion in revenue.
The move has come in the wake of heightened defence cooperation between Vietnam and India.