Mazagon Dock Secures ONGC Contract
OIL & GAS

Mazagon Dock Secures ONGC Contract

Contract Award: Mazagon Dock Shipbuilders Limited has secured a significant contract worth ?1,486 crore from Oil and Natural Gas Corporation (ONGC). The contract involves the construction and supply of offshore support vessels.

Project Scope: The contract includes building specialized vessels designed for offshore operations. These vessels will support ONGC’s activities in the oil and gas sector, enhancing operational efficiency and capabilities.

Share Price Impact: Following the announcement of the contract, Mazagon Dock’s share price experienced a notable increase. The market response reflects positive investor sentiment and confidence in the company’s growth prospects.

Strategic Importance: Securing this contract is a strategic move for Mazagon Dock, reinforcing its position as a key player in the shipbuilding industry. It underscores the company’s capabilities in delivering high-value projects in the offshore sector.

ONGC’s Role: ONGC, India’s largest oil and gas exploration company, is a major client for Mazagon Dock. This contract highlights ONGC’s ongoing investment in enhancing its offshore operations and infrastructure.

Company Background: Mazagon Dock Shipbuilders is a leading shipbuilding company in India, specializing in the construction of naval ships, submarines, and offshore vessels. The company is known for its expertise and track record in delivering complex maritime projects.

Contract Award: Mazagon Dock Shipbuilders Limited has secured a significant contract worth ?1,486 crore from Oil and Natural Gas Corporation (ONGC). The contract involves the construction and supply of offshore support vessels. Project Scope: The contract includes building specialized vessels designed for offshore operations. These vessels will support ONGC’s activities in the oil and gas sector, enhancing operational efficiency and capabilities. Share Price Impact: Following the announcement of the contract, Mazagon Dock’s share price experienced a notable increase. The market response reflects positive investor sentiment and confidence in the company’s growth prospects. Strategic Importance: Securing this contract is a strategic move for Mazagon Dock, reinforcing its position as a key player in the shipbuilding industry. It underscores the company’s capabilities in delivering high-value projects in the offshore sector. ONGC’s Role: ONGC, India’s largest oil and gas exploration company, is a major client for Mazagon Dock. This contract highlights ONGC’s ongoing investment in enhancing its offshore operations and infrastructure. Company Background: Mazagon Dock Shipbuilders is a leading shipbuilding company in India, specializing in the construction of naval ships, submarines, and offshore vessels. The company is known for its expertise and track record in delivering complex maritime projects.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?