Mazagon Dock Shipbuilders Ltd. (MDL), one of India’s leading defence public sector undertakings, has issued an official clarification regarding media reports linking it to a ₹70,000-crore submarine project in collaboration with Germany’s Thyssenkrupp Marine Systems (TKMS).
In its statement to the exchanges, the company described the report as factually incorrect, outlining the exact status of its involvement in the project.
Clarification on P-75(I) Submarine Project
MDL stated that it had been informed by the Ministry of Defence (MoD), Acquisition Wing, through a written communication on 14 January 2025, that its bid for the Project 75(I) submarine program had qualified for the next stage of procurement.
Subsequently, on 16 January 2025, the company’s commercial bid was opened by the empowered committee. However, MDL emphasized that no negotiations have commenced with the Indian Navy or the Ministry of Defence regarding the project to date.
No Undisclosed Information
Mazagon Dock further clarified that it has no undisclosed information which could explain any market speculation around the project. The company reiterated that all material updates have been communicated transparently through official channels and exchange filings.
About Project P-75(I)
Project 75(I) is part of India’s strategic submarine-building program under the Ministry of Defence, aimed at strengthening the Navy’s underwater capabilities. The project envisages the construction of six advanced submarines with air-independent propulsion systems and other modern technologies.
Germany’s Thyssenkrupp Marine Systems (TKMS) and MDL have been among the contenders in the bidding process. However, MDL’s clarification confirms that talks have not yet progressed to cost negotiations.
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