Besides the state-run shipyards, private players like Larsen & Toubro (L&T) and Pipavav Defence & Offshore Engineering Company, in which Anil Ambani-led Reliance has announced to pick up a controlling stake, is eyeing the mega deal.
The Committee has visited all the shipyards in the country and will submit its report by April end, Vice Admiral A V Subhedar said.
The senior Naval officer, who heads the Committee having seven members, besides him, though remained tight-lipped about the findings.
MDL is already making six Scorpene submarines. Asked if MDL would be the natural winner, sources said, the eco-system has to be developed and hinted that the order could go to a particular shipyard which could then outsource a part of project to others.
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India had in October decided to build six submarines at a cost of about Rs 50,000 crore under Project 75-India, rather than source it from outside.
The government has set-up an eight-member committee to study both public and private shipyards.
The submarines will be Air Independent Propulsion (AIP) capable that will enable them to stay underwater for longer than a conventional submarine, besides, having enhanced stealth features.
The Navy currently has 13 operational submarines and the target set in 1999 was to have 24 by 2030. The previous UPA government had gone in for six Scorpene submarines and the first is likely to be delivered only in September 2016.