Mazagon Dock Share: Mazagon Dock has received a new order from the Defense Ministry worth about ₹1990 crore. This contract is for the construction and integration of Air Independent Propulsion (AIP) plug for DRDO. This information was given in a statement of the Defense Ministry on December 30. The company’s shares have fallen by 1.84 percent today on December 30. This stock closed at Rs 2266.25 on BSE. The market cap of the company is Rs 91,415 crore. The stock’s 52-week high is Rs 2,929.98 and 52-week low is Rs 898.55. This stock has given a strong return of 98 percent in 2024.
Order related details
The project involves construction and integration of AIP plugs, which will enhance the endurance of conventional submarines and contribute to the ‘Atmanirbhar Bharat’ initiative. Mazagon Dock said that these AIP systems will be retrofitted into Scorpene submarines. Also, the Navy is keen to incorporate the AIP system during the first refit of the first submarine, which is expected to take place in 2025.
Air Independent Propulsion (AIP) acts as a force multiplier for diesel-electric submarines, as it increases the submarine’s underwater operation capability (submerged endurance) many times over.
AIP technology enables submarines to operate underwater without having to surface, i.e. without receiving oxygen. Due to this, many non-nuclear ships can now operate without using atmospheric oxygen. DRDO has developed this technology in collaboration with industry partners L&T and Thermax.
In the statement issued by the government, it has been said that this contract will generate employment of about three lakh man-days. Along with this, the government has also signed a contract worth ₹877 crore with France’s Naval Group. The contract is to integrate Electronic Heavy Weight Torpedo (EHWT) into Kalvari-class submarines, which will increase their fire power capability. Both the contracts were signed in New Delhi in the presence of Defense Secretary Rajesh Kumar Singh.
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