State-owned Cochin Shipyard Ltd on Thursday announced that its wholly owned subsidiary, Udupi Cochin Shipyard Ltd, has secured a notable order from Ocean Sparkle, an Adani Group company, for the construction of four ASD (Azimuthing Stern Drive) tugs with 70-tonne bollard pull capacity.
The company classified the contract under the “Notable” category, indicating an order value ranging between ₹100 crore and ₹250 crore.
According to the company, the tugs will be built in accordance with the Approved Standard Tug Design and Specifications (ASTDS) issued by the Ministry of Ports, Shipping and Waterways. Deliveries are scheduled to commence from November 2028 and conclude by June 2029.
Cochin Shipyard clarified that none of its promoters, promoter group entities or group companies have any interest in the entity awarding the contract. It also stated that the deal does not qualify as a related-party transaction.
Earlier this year, in February, Cochin Shipyard emerged as the lowest bidder (L1) for a proposed ₹5,000 crore contract floated by the Ministry of Defence for the construction of five Next Generation Survey Vessels (NGSVs) for the Indian Navy.
The shipbuilder said the final award of the Navy contract remains subject to completion of necessary formalities.