Private sector shipbuilder, Pipavav Shipyard, today said it has bagged a contract worth $111.84 million (nearly Rs 513.83 crore) from ONGC for construction and supply of 12 vessels.
The company has bagged an order for the construction and supply of 12 offshore support vessels (OSVs) from ONGC, Pipavav Shipyard said in a filing to the Bombay Stock Exchange.
Under the contract, ONGC has also reserved the right to place order for spares of up to $1.76 million (nearly Rs 8.10 crore) for the OSVs, the filing added.
Shares of Pipavav Shipyard were trading at Rs 57.30 on the BSE, up 0.26 per cent from its previous close.
