Business

L&T may bag submarine contract

Engineering and construction major Larsen and Toubro (L&T) is likely to bag a mega contract for making submarines in India, as it is among the two Indian firms selected by the government for the ₹50,000-crore project to build six conventional submarines in India for the Navy.

Among private players, Adani Defence failed to make the cut following a detailed evaluation of eligibility criteria by a high-powered committee. Initially, Reliance Naval & Engineering was among the Indian contenders, but could not make the shortlist due to financial woes. The other Indian firm is Mazagaon Docks Ltd., which is running behind schedule in executing the earlier submarine project awarded to it.

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Printable version | Jul 7, 2020 12:35:48 PM | https://www.thehindu.com/business/lt-may-bag-submarine-contract/article30636879.ece

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