Mazagaon Dock, Pipavav ink JV to build warships
Press Trust of India / Mumbai Sep 12, 2011, 14:59 IST
Pipavav Defence and Offshore Engineering Company (formerly Pipavav Shipyard) today said it will form a joint venture company with state-run Mazagaon Dock (MDL) for building warships for the Indian Navy.
"The Board unanimously approved setting up of the joint venture company with MDL to be named as 'Mazagon Dock Pipavav Ltd'," it said in a filing to the Bombay Stock Exchange.
The PSU has selected it as the joint venture partner for building warships for the Navy, it added.
It is for the first time post independence that a private sector company has been selected by Defence Ministry- controlled PSU to build warships together, the filing said.