"This is to inform that Mazagon Dock Shipbuilders Limited (MDL) has signed individual Shipbuilding Contracts with the European client for the construction of three (03) units of 7,500 DWT Multi-Purpose Hybrid Powered Vessels on December 14, 2023, for a value of approximately $42 million," the company said in a regulatory filing.
The agreement involves the design, construction, and delivery of three cutting-edge vessels with a deadweight tonnage of 7,500 each, with an approximate total contract value of $42 million.
The first vessel is slated for delivery 27 months from the contract's commencement, followed by successive vessels at two-month intervals.
The letter of intent (LOI) for this arrangement was initially disclosed in October.