The government is set to divest its shareholdings in defence PSUs, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd (MIDHANI). It will also divest its shareholding in BEML Limited, said Shripad Naik. Minister of State for Defence, on Monday. The government has invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control.
India's largest warship builders -- Mazagon Dock Ltd, Mumbai; and Garden Reach Shipbuilders & Engineers, Kolkata - have prevailed over the Indian Navy's objections. MDL and GRSE will divide between them the entire order for seven improved stealth frigates, code-named Project 17A.The Navy was insisting that the first two frigates of Project 17A be built abroad, so that MDL and GRSE could learn how to build ships using new modular methods that are preferred by European shipyard
In the hot Kolkata sun, on the banks of the Hooghly river, craftsmen from Garden Reach Shipbuilders & Engineers (GRSE) swarm over what will be the Indian Navy's most high-tech stealth warship. For GRSE, the navy's order for four anti-submarine warfare (ASW) corvettes is its flagship project. But Project 28, as it is termed, is two years behind schedule.The first corvette was to join the fleet early next year. However, it will be delivered only in June 2012.
Warship INS Beas, an advanced guided missile frigate, was commissioned by the Indian Navy on Monday for deployment in security operations.
Defence public sector undertakings (PSUs) have been asked by the Centre to hold roadshows in Dubai and Abu Dhabi to share their financials and business plans to reel in investors. Hindustan Aeronautics (HAL), Bharat Dynamics (BDL), Bharat Electronics (BEL), Garden Reach Shipbuilders & Engineers (GRSE), and Mishra Dhatu Nigam (MIDHANI) have informed stock exchanges that they will conduct investor outreach programmes and participate in 'non-deal' roadshows and meetings with prospective investors from September 12-15. They will share their short- and medium-term growth plans, financial metrics, improvement in their stock performance/ market capitalisation - and make a pitch of sorts to prospective investors.
INS Kamorta is the first of the four ASW stealth corvettes designed by Indian Navy's in-house organisation, Directorate of Naval Design (DND), and built by Garden Reach Shipbuilders & Engineers Ltd, Kolkata, under Project 28.
Saying it was not a worry, the Indian Navy said they were monitoring all such activities.
India will export its first warship later this month, a move that is seen as a big leap for the country's defence public sector units.
The fast interceptor craft delivered can patrol the coastline at a scorching speed of 45 knots.
Though this is part of the divestment drive, government's stake in these companies remains 100 per cent even after the buybacks
Ready to protect the waters, India's first indigenously-built anti-submarine warfare corvette INS Kamorta will be handed over to the Indian Navy on Saturday, defence officials said.
India's first indigenously-built anti-submarine warfare corvette INS Kamorta is ready to be commissioned into the Indian Navy next month, defence officials said in Kolkata.
The STF of Kolkata Police has seized mobile phone SIM card which, it believes, was used by the three arrested suspected ISI agents to pass on information to the ISI of Pakistan.
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
The Indian Navy is constrained by its lowest budgetary allocation since 2011-2012, reveals Ajai Shukla.
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Barring one, three are debt-free and sitting on large cash reserves.
"INS Kiltan strengthens our defence system and will be a shining armour in our 'Make in India' programme," Sitharaman said.
'An ASW corvette without towed array sonar and an ASW helicopter is nothing more than a feeble joke,' says a retired navy commodore.
With no payments coming in, HAL for the first time ever taken a bank loan of Rs 7.81 billion.
The navy's plan to build three Russian Talwar-class frigates has a less than wholesome odour.
The Long Range Surface to Air Missile jointly being developed by India and Israel is an answer to potential threats from Pakistan's anti-ship missile.
Though the government says public and private shipyards compete on equal terms, public shipyards feast at the high table with the defence ministry, with only scraps being tossed to private shipbuilders.
'With Pakistan's 'first use doctrine' threatening the use of nuclear weapons early in a war with India, the S-400 will shield vulnerable targets like Delhi and Mumbai, complicating Pakistan's targeting calculations.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The range of purchases throw a light on India's threat perception as also its perceived role of being a stabilising influence in the region,' says Brigadier S K Chatterji (retd).
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