In the last quarter, company signed a major protocol with a company controlled by Russian ministry of defence for a potential contract of $2 billion. It also proposes to own controlling stake in Bangalore-based Conceptia Software, a ship design, engineering and consulting firm.
Pipavav Shipyard was in the news following the contract awarded to the company from Indian Navy, amounting to Rs 2,975 crore. The company has tied up with foreign partners such as US-based Northrop Grumann and UK-based Babcock Group to strengthen its presence in defence segment. The company is also in talks with six governments of various nations to build warships at company's facilities.