Mazagon Dock: Company gets Rs 1990 crore contract from Defense Ministry, shares will remain in focus

Big news has come about Mazagon Dock Shipbuilders Ltd. After the market closed, it was reported that Mazagon Dock Shipbuilders has received a contract of Rs 1,990 crore from the Ministry of Defense. This information has been given in a statement issued by the ministry. It has been said that Mazagon Dock has received a contract of about Rs 1,990 crore from the Ministry of Defense for the construction of Air Independent Propulsion (AIP) plug for DRDO as well as its integration.

The project involves the manufacture and integration of AIP-plugs and will enhance the endurance of conventional submarines, contributing to ‘Atmanirbhar Bharat’. AIP acts as a force multiplier on diesel-electric submarines, as it increases the submerged endurance of the boat several times. In October this year, the company had informed that it had received a purchase order of Rs 121.67 crore from the Maharashtra State Power Generation Company (MAHAGENCO) Infrasecure Project.