Shipbuilding & heavy fabrication company inks exclusive deal with Europe's offshore oil and gas vessel leader Royal IHC

Swan Defence and Heavy Industries Limited (SDHI) has entered into an exclusive Memorandum of Understanding (MoU) with Royal IHC, a European leader in offshore oil and gas vessels, to design, build and retrofit various vessels in India. This collaboration, which also involves Alar Infrastructure as the Indian representative, aims to leverage the combined expertise, infrastructure and geographical advantages of both companies. The partnership will explore building Offshore Construction Vessels, Pipe Laying Vessels and Multi-Purpose Offshore Support Vessels at SDHI's shipyard located in Pipavav Port, Gujarat. This strategic alliance is a significant step toward advancing India's indigenous shipbuilding capabilities and promoting self-reliance, aligning with the government's Make in India and Atmanirbhar Bharat initiatives.

The partnership brings together Royal IHC's world-leading expertise in vessel design, engineering and project management with SDHI's advanced shipbuilding infrastructure. Located on India's west coast, SDHI's shipyard features the country's largest dry dock and a substantial fabrication capacity of 144,000 tons per annum. This collaboration is set to enhance India's position in the global shipbuilding industry by strengthening indigenous capabilities and offering integrated, cost-competitive solutions for specialised offshore vessels. By combining their strengths, the two companies aim to fulfil India's maritime and industrial ambitions and become a competitive force in the international market.

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About Swan Defence and Heavy Industries Limited

Swan Defence and Heavy Industries Limited (SDHI), formerly known as Reliance Naval and Engineering Limited, is a leading shipbuilding and heavy fabrication company in India. Strategically located on the west coast of India, the shipyard operates the country’s largest dry dock (662m x 65m) and has an impressive fabrication capacity of 1,44,000 tons per annum – providing an unmatched advantage in fulfilling India’s maritime and industrial ambitions. SDHI is committed to innovation, excellence, safety and sustainability

On Monday, shares of Swan Defence and Heavy Industries Ltd hit a 5 per cent upper circuit to Rs 606.15 per share from its previous closing of Rs 577.30 per share. The stock also made a new 52-week high of Rs 606.15 per share while its 52-week low is Rs 35.99 per share. The company has a market cap of Rs 3,193.33 crore and the stock has given multibagger returns of 1,584.2 per cent from its 52-week low of Rs 35.99 per share.

Disclaimer: The article is for informational purposes only and not investment advice.