financetom
Business
financetom
/
Business
/
L&T inks Master Ship Repair Agreement with US Navy
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
L&T inks Master Ship Repair Agreement with US Navy
Jul 11, 2023 2:55 PM

Larsen & Toubro on Tuesday said it has signed the Master Shipyard Repair Agreement with the US Navy to further strengthen the partnership between the two countries in the defence sector. L&T's Kattupalli Shipyard, near Chennai, a major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels, the firm said in a statement.

Share Market Live

NSE

After an elaborate assessment by the US Navy and the Military Sealift Command, the shipyard qualified for the Master Shipyard Repair Agreement (MSRA). This is equivalent to undertaking warship refits, for which the shipyard has already been qualified by the Indian Navy and the Coast Guard, it said. L&T has signed the MSRA with the US Navy, the statement added.

"This MSRA is yet another milestone in our ever-expanding US-India partnership. This historic agreement is a direct outcome of the 2022 US-India 2+2 Ministerial Dialogue and demonstrates US commitment to utilise repair facilities on a regular basis at the L&T shipyard in Kattupalli. This agreement will serve to strengthen our two nations' strategic partnership and contribute to a free and open Indo-Pacific," US Consul General in Chennai Judith Ravin was quoted as saying in the statement.

The agreement marks yet another step in the growing relationship between the biggest and the oldest democracies of the world, further strengthening the partnership between them in the defence sector, the statement said.

"This agreement marks a global recognition of our unmatched capabilities and facilities to undertake quality ship repairs and refits...L&T will dedicate all its dynamism, innovation, and Shipbuilding 4.0 techniques to meet the quality and delivery requirements of the US side," A T Ramchandani, Executive Vice President and head of L&T Defence, said.

USNS Salvor ship was received at Kattupalli Shipyard for voyage repairs. This is the third US ship coming to the shipyard for voyage repairs. Earlier, voyage repairs of Marine Sealift Command (MSC) Fleet Support Ships -- USNS Charles Drew and USNS Matthew Perry -- were undertaken and completed on time by the company, it added.

L&T's Kattupalli Shipyard is one of the modern shipbuilding and ship repair facilities in this part of the world, the statement said.

ALSO READ: EXCLUSIVE | L&T Group eyeing leadership in realty, a berth in top 5 in IT: CEO Subrahmanyam

(Edited by : Keshav Singh Chundawat)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved