New Delhi: Cochin Shipyard Limited (CSL) on Thursday announced that its wholly owned subsidiary, Udupi Cochin Shipyard Limited, has secured a notable domestic order from Ocean Sparkle Limited, an Adani Group company, for the construction of four ASD (Azimuthing Stern Drive) tugs with 70-ton bollard pull capacity.

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According to the regulatory filing to stock exchanges, the tugs will be built in line with the Approved Standard Tug Design and Specifications (ASTDS) issued by the Ministry of Ports, Shipping and Waterways, Government of India.

The company stated that deliveries of the vessels are scheduled to begin from November 2028 and are expected to be completed by June 2029.

CSL classified the contract as a “Notable” order, indicating an order value in the range of Rs 100 crore to Rs 250 crore. However, exact amount of the contact has not been mentioned by the company.

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The shipbuilder further clarified that none of its promoters, promoter group entities or group companies have any interest in the awarding entity. The company also confirmed that the transaction does not fall under related party transaction norms.

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