Shipbuilding & heavy fabrication company signs agreement to manufacture cargo and vehicle inspection systems in India

Swan Defence and Heavy Industries Limited (SDHI), a prominent Indian shipbuilding and heavy fabrication company, has entered into a strategic agreement with Varex Imaging Corporation, a global leader in linear accelerators and imaging technology based in Salt Lake City, USA. This collaboration will see SDHI exclusively manufacturing Varex's high-energy cargo and vehicle inspection systems at its state-of-the-art facility in Pipavav, Gujarat. These advanced systems are specifically designed to inspect all types of cargo at both land and sea ports, addressing a critical need for enhanced security across India.

This strategic partnership is poised to meet the increasing demand for sophisticated inspection solutions from security agencies throughout India. Furthermore, it strongly aligns with the "Make in India" initiative, promoting indigenous manufacturing while simultaneously providing access to world-class security imaging technology within the country. SDHI's manufacturing capabilities are robust, boasting India's largest dry dock (662m x 65m) and an impressive annual fabrication capacity of 144,000 tons, which positions the company ideally to fulfil India’s growing maritime and industrial ambitions through this significant collaboration.

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 354.65 per share from its previous closing of Rs 337.80 per share. The stock also made a new 52-week high of Rs 354.65 per share while its 52-week low is Rs 35.99 per share. The company has a market cap of Rs 1,868.4 crore and the stock has given multibagger returns of 885 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.