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07:00 AM, December 27, 2017
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Hindustan Shipyard Wins $156 Million to Build Two Diving Support Vessels for Indian Navy
Diving support vessel (Representational Image)

India’s Hindustan Shipyard Ltd has won INR 1000 Crores (US $156 million) contract to build two diving support vessels (DSV) for the Indian Navy.

“The DSV is used by the Indian Navy to help in emergencies like a submarine sinking, or to provide material to submarines. He said HSL had won the contract through a competitive bidding process,” chairman and managing director of HSL, Rear Admiral (Retd) LV Sarath Babu was quoted as saying by Times of India on Monday.

"We have completed the price negotiations, and expect to sign the work contract soon," Admiral Sarath Babu said.

The first DSV would be delivered within three years of getting the contract, and the second one will be due for delivery within 12 months of the delivery of the first vessel.

"For highly specialised technology and labour, we will bring in outside consultants for the purpose, but we will deliver the vessels to the Indian Navy's satisfaction and also on time," Admiral Sarath Babu said.

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