French defence firm DCNS eyes stake in Pipavav Defence & Offshore Engineering
15 Dec 2012
DCNS, French naval defence company and one of Europe's leading shipbuilder, is nearing a deal to buy a 15-per cent stake in Pipavav Defence & Offshore Engineering for about Rs1,350 crore, The Economic Times today reported, citing people close to the development.
"They had earlier signed a strategic alliance with Pipavav, but have now decided to be a strategic investor, and the stake sale will be completed over the next few days, said the report.
Nikhil Gandhi-promoted Pipavav Defence and Offshore Engineering Company is the defence arm of Pipavav Shipyard Ltd, the largest shipyard in India.
The company has built the most modernised heavy engineering and defence-focused infrastructure facilities adjacent to Pipavav Port in Gujarat.
With one of the largest dry docks in the world admeasuring around 662 meters in length and 65 meters in width, it has the capacity to accommodate vessels of up to 400,000 DWT and capability of building large naval vessels, coast guard vessels, warships, etc.
It is equipped with two Goliath cranes capable of lifting engines and mega ship blocks weighing up to 1200 tonnes.
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