Two Indian business majors, L&T and Pipavav Defence and Offshore Engineering Company, formerly known as Pipavav Shipyard, have joined forces with Mazagon Dock with the aim of building warships for the Navy.
The decision on the joint venture comes in the aftermath of Mazagon Dock’s initial partnership with Pipavav, which raised eyebrows of many other shipbuilders, questioning the transparency in the selection process, the Hindu Business Line writes.
The confusion prompted the Defence Ministry to set forth the guidelines for establishing joint venture companies by Defence public sector undertakings, which have been followed to the letter with the establishment of the new joint venture.
Read More..........................
No comments:
Post a Comment