MoD signs Rs 473 crore contract with GSL for construction of eight Fast Patrol Vessels for Coast Guard
New Delhi, March 28, 2022
The Ministry of Defence (MoD) on Monday signed a contract with Goa Shipyard Limited (GSL) for construction of eight Fast Patrol Vessels (FPVs) for the Indian Coast Guard at a total project cost of Rs 473 crore.
The contract was signed by Dinesh Kumar, Joint Secretary (Maritime & Systems), Ministry of Defence, and Cmde B B Nagpal (Retd), Chairman & Managing Director, GSL.
An official press release said the surface platforms would be indigenously designed, developed and manufactured by GSL under Buy (Indian-IDDM) Category.
The high-speed vessels will be based along the coast of India with capability to operate in shallow waters and enhance the security apparatus along the long coast line.
They would boost the indigenous shipbuilding capability and increase employment opportunities in the sector, the release said.
"The contract will further boost the Government’s resolve of making India a defence manufacturing hub which caters to not only the domestic needs but also the export market," the release added.