Mazagon Dock Shipbuilders Ltd., fell over 1% in Tuesday morning trade after the company issued clarification on the Rs 70,000-crore deal for six submarines deal. On Monday, the company issued a clarification stating that there are currently ‘no negotiations’ with the Defence Ministry for the Rs 70,000-crore deal for six submarines that are to be built in India with German support under ‘Project 75 India’.
The clarification comes after news agency ANI reported on Sunday, quoting Defence officials, that the Centre has given clearance to Defence Ministry and Mazagaon Dock to begin negotiations. However, in an exchange filing on Monday, the shipbuilder said, “No negotiations have been commenced with Ministry of Defence for the project.”
In January, the Defence Ministry selected the state-owned Mazagaon Dock for building six submarines with Air Independent Propulsion systems with Germany’s ThyssenKrupp Marine Systems as its partner.
