Setback For Adani Group As Centre Rejects Bid For Rs 45,000 Crore Submarine Project; L&T, MDL Shortlisted

The Defence Ministry on Tuesday (21 January) shortlisted two Indian competitors - the state owned Mazagaon Docks Limited and private sector giant Larsen and Toubro - for the Rs 45,000 crore project to build six conventional submarines, reports Economic Times.

According to the report, a third bid put up by Adani Defence and the state owned Hindustan Shipyard Limited was junked on the grounds that clearances were not in place for the formulation of the joint venture that responded to the expression of interest.

Besides the two Indian companies, the Defence Acquisition Council headed by Defence Minister Rajnath Singh has also selected five foreign technology partners for the project.

The five foreign vendors in contention are Rosoboronexport (Russia), Naval Group (France), Daewoo (South Korea), ThyssenKrupp Marine Systems (Germany) and Navantia (Spain).

“The DAC approved shortlisting of Indian Strategic Partners (SP) and the potential Original Equipment Manufacturers (OEMs) that would collaborate with SPs to construct six conventional submarines in India,” the Defence Ministry said in a statement.

As per the report, these will be the last set of submarines to be built in India with foreign collaboration, next generation to be designed and develop domestically.