Cochin Shipyard (CSL) has bagged a mega order worth over Rs 2,000 crore from a prominent European client for the design and construction of six feeder container vessels, each with a capacity of about 1,700 TEUs and powered by liquefied natural gas (LNG).
Cochin Shipyard receives LoI for Rs 2,000 crore order
In its regulatory filing on Tuesday, the company said it has received a Letter of Intent (LoI) for the same. A formal shipbuilding contract detailing the techno-commercial terms will be signed in due course.
The company also informed that none of the promoter, promoter group, or group companies have any interest in the entity that awarded the order. The order does not fall under the purview of related-party transactions.
Share price of Cochin Shipyard
The share price of Cochin Shipyard reached an intraday high at Rs 1807.65 at around 9:40 am. The stock has increased almost 14.29% so far this year.
Cochin Shipyard in its AGM released that the shipbuilding company closed FY25 with a strong order book of around Rs 21,000 crore across defence, commercial, and export projects. The company has 74 vessels on order, including 50 under construction.