BUSINESS

Reliance Defence is lowest bidder for patrol vessels

Reliance Defence Engineering Limited (RDEL) has emerged as the lowest bidder to build 14 Fast Patrol Vessels( FPVs) for the Indian Coast Guard (ICG). It is the largest naval order to the private sector by ICG. The contract value is Rs.920 crore. FPVs are primarily designed for patrolling, anti-smuggling and anti-terrorist operations, fisheries protection and search and rescue, and are a critical support to the Navy during wartime. A company official confirmed that the firm had emerged as the L1 bidder in the competitive bids and is hopeful of signing the contract soon. The first vessel to is expected to be delivered within 24 months from date of signing the contract and the last within 76 months from date of signing the contract.— Special Correspondent

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