Mazagon Dock in Talks with Ministry of Defence for 3 More Kalvari-Class Submarines Valued at ₹35,000 Crore
Mazagon Dock’s shares rose by 4% on news of advanced negotiations for acquiring three additional Kalvari-class (Scorpene) submarines for the Navy, potentially sealing a ₹35,000-crore deal to strengthen India’s submarine fleet.
According to sources cited by ET, the new submarines under discussion will be larger and equipped with advanced electronics, enhancing their capabilities and endurance compared to earlier models.
As a government-owned PSU under the Ministry of Defence, Mazagon Dock Shipbuilders Limited is the designated shipyard for building naval vessels and submarines for the Indian Navy. It is India’s largest shipbuilder by revenue and order book, involved in ambitious projects such as the Scorpene class submarines, Visakhapatnam and Kolkata class destroyers, among others.
Currently constructing the Kalvari-class submarines under Project 75, Mazagon Dock expects to deliver the sixth and final submarine by year-end. If finalized, the new submarines could be delivered within six years.
This acquisition not only strengthens India’s underwater defense but also facilitates significant technology transfer to Mazagon Dock and its suppliers, advancing the indigenous design, development, and manufacturing capabilities for future submarines of this class.
As of March 2024, Mazagon Dock’s order book stands at approximately ₹39,000 crore, encompassing projects like P-15 Bravo destroyers, P-17 Alpha frigates, and P-75 submarines.
Since the initial induction in 2017, these Scorpene-class submarines, developed in collaboration with France’s Naval Group under a technology transfer agreement, have been pivotal in enhancing India’s maritime defense capabilities.
With increased defense spending and initiatives like ‘Make in India’, the outlook for the defense sector remains positive, bolstered by rising export orders and domestic manufacturing capabilities.
