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As per the firm’s classification, the value of the large contract lies between Rs 500 crore and Rs 1,000 crore.
The vessel is equipped with hybrid battery systems to improve the energy efficiency and reduce the carbon foot prints.
The vessel is designed and built according to the service, maintenance and operational needs of the offshore wind farm industry in the European market where sustainable energy solutions are in high demand. The project is expected to be completed by the end 2026.
The cost of the project is worth Rs 500 crore to Rs 1000 crore.
Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 December 2023, the Government of India held 72.86% total voting right in the company.
The company’s consolidated net profit soared 121% to Rs 244.38 crore on 64.63% jump in revenue from operations to Rs 1,056.40 crore in Q3 FY24 over Q3 FY23.
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