Infrastructure

Government rejects HSL-Adani bid for Rs 45,000 crore submarine project; Mazagaon Docks and L&T shortlisted, says report

Updated : January 21, 2020 07:38 PM IST

The defence ministry has decided to go ahead with its Rs 45,000 crore procurement plan with two Indian competitors - the state-owned Mazagaon Docks Limited and private sector giant Larsen and Toubro, reported The Economic Times.

A third bid that was put up by Adani Defence and the state-owned Hindustan Shipyard Limited (HSL) has not been cleared over grounds that clearances were not in place for the formulation of the joint venture that responded to the expression of interest, the report said.

A tussle had emerged over the biggest Make in India project for the defence sector after the Navy has refrained from going ahead with the joint public-private bid while the defence production ministry had emphasized that such teaming arrangements should be considered

Clearing the way ahead for the mega plan, the Defence Acquisition Council (DAC) has selected the two Indian companies and five foreign technology partners and all five foreign technology collaborators who applied to take part in the competition, the report added.

Government rejects HSL-Adani bid for Rs 45,000 crore submarine project; Mazagaon Docks and L&T shortlisted, says report

You May Also Like

Market-cap of 4 of top-10 valued firms jumps over Rs 1.15 lakh crore

India saw 19 IPOs worth $1.84 billion in 2020 December quarter

Tata Power Solar wins Rs 1,200 crore order to set up 320 MW project

Trending on CNBC-TV18

recommended for you