Cochin Shipyard Ltd(CSL) stated, it has been the lowest bidder for a project of the Indian Navy and the Rs.5,400 crore contract for 8 vessels is likely to be concluded after due process.

In a BSE filing the company stated,”CSL has received communication from the Integrated Headquarters, Ministry of Defence(Navy) that the company has emerged as the L1 bidder for 16 X ASW SWC Project for the Indian Navy.”

Further it said, the order was bagged against a competitive tender issued by the ministry, in which both private and public sector yards had participated.

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