The Protocol of Delivery and Acceptance was signed between Capt R S Sundar, Director (Operations), CSL and Commanding Officer (Designate) of the vessel Cmdt Satish Bisht, a CSL release said here.
Senior officials of ICG and CSL were present on the occasion. The vessel will be operated from the Coast Guard Station at Haldia.
The yard has consistently performed beyond expectations in that it has delivered seven ships in Financial Year 2014-15 and 3 ships in Financial Year 2015-16.
"The other two being Fast Patrol Vessels for ICGS and one Buoy Tender Vessel to Directorate General of Light Houses and Light Ships," it said.
So far 12 ships out of 20 have been handed over to the Indian Coast Guard, the 15th Ship has been launched and keel of 16th Ships has been laid, the CSL said.
Cochin Shipyard has successfully delivered 12 ships in a span of just 20 months with an average delivery interval of 1.6 months, against the contractual commitment of 3 months interval.
However, with the current pace of construction, Cochin Shipyard is targeting to accomplish this by mid of 2016, much ahead of schedule, the CSL said.
These Fast Patrol Vessels are primarily intended for patrolling within the Exclusive Economic Zone and Coastal Patrol, carrying out anti smuggling, anti piracy and search and rescue operations, and for fisheries protection and monitoring.
They also have a secondary role of providing a communication link, and escort coastal convoys, in times of hostilities and war.
The vessels are equipped with a long range gun and ultra-modern vessel control, navigation and communication tools. The vessels are capable of 7 days continuous deployment at sea without replenishing.
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