Mazagon Dock Shares in Focus: Commenced Production For First FPV

On December 19, 2024, Mazagon Dock Shipbuilders Ltd (MDL), a Navratna Defence Public Sector Undertaking (DPSU) announced that it has commenced the production of the first Fast Patrol Vessel (FPV) as part of the 14 FPVs project for the Indian Coast Guard (ICG).

MDL has signed a contract with ICG for the design, construction, and delivery of a total of 14 Fast Patrol Vessels, valued at ₹1,070.47 crore. Each vessel will feature a waterjet propulsion system and is designed to achieve speeds in excess of 33 knots. The vessels will be classified under dual-class (ABS & IRS).

Features and Purpose of FPVs

The FPVs will be high-speed craft equipped with waterjet propulsion and high-speed diesel engines. Their primary role will include patrolling coastal waters and protecting fisheries. Additionally, these vessels will be capable of carrying a small high-speed boat for search and rescue missions, especially in shallow, uncharted waters. In wartime, the vessels will serve various roles, such as providing communication links, escorting coastal convoys, providing logistic support, conducting medical evacuations, and supporting Indian Navy resources.

NGOPV Project Details

MDL has also signed a contract with ICG for the design, construction, and delivery of 6 Next Generation Offshore Patrol Vessels (NGOPVs), valued at ₹1,614.89 crore. These vessels will feature twin controllable pitch propellers driven by 9000 kW engines, ensuring speeds exceeding 23 knots. Like the FPVs, the NGOPVs will also be classified under dual class (ABS & IRS).

Features and Purpose of NGOPVs

The NGOPVs are designed as high-speed craft under Class HSC rules. They will primarily be used for coastal and offshore patrolling, policing India’s maritime zones, and ensuring maritime security. The vessels will play a key role in fisheries protection, anti-smuggling, anti-piracy operations, search and rescue missions, ocean surveillance, and monitoring sea lines of communication (SLOCs).

The first FPV is scheduled for delivery in March 2026. The delivery of the first NGOPV is scheduled for July 2027, with the second NGOPV expected in December 2027.

On December 20, 2024, Mazagon Dock shares opened at ₹5,099.75 and touched the day high of ₹5,150.35 at 09:45 AM.

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