Mazagon Dock Shipbuilders Limited (MDL) has signed a contract with Acquisition wing of Ministry of Defence for Construction and Delivery of Fourteen (14) Fast Patrol `Vessels (FPVs) for Indian Coast Guard (ICG) on 24 January, 2024. Ist vessel delivery is TO + 24 months and delivery of subsequent vessels at intervals of three (03) months, where TO is the date of release of advance payment by the Buyer to the Seller. Broad consideration or size of the order(s)/contract(s): Approx.

INR 1,070 million. MDL is a Government Company under section 2(45) of the Companies Act, 2013 under administrative control of the MoD. ICG also under MoD is the beneficiary of the contract.