Varun Shipping Company today said it has signed contracts with Petrobras, Brazil, a government of Brazil undertaking, for three anchor handling towing and supply vessels (AHTS) - Suvarna, Subhiksha and Sudaksha.
The initial time charter contracts are for a firm period of four-years with an extension option in favour of Petrobras for another four-years, the company said in a statement here.
The total contract value estimated for the firm period is Rs 690 crore and for the extension period is Rs 690 crore.
Accordingly, the total contract value works out to Rs 1,380 crore, it added.