Pipavav bags Rs 400-cr ONGC contract

Pipavav Defence and Offshore Engineering has bagged a Rs 400-crore contract for repair and maintenance of ONGC oil rig, the company announced today. The oil rig, 'Sagar Laxmi' is one of the critical oil rigs of ONGC and Pipavav beat competition from global firms to win the contract.

Previously, the company has secured contracts from other multi national companies such as TransOcean and Noble for maintenance and dry docking of rigs but this is its first contract from the ONGC, the company said.

Earlier in the month the company entered in a joint venture with  government owned Mazagon Docks to build warships. The company said it was licenced to build five warships a year.