Defence PSU Mazagon Dock Ltd today signed a deal with the Defence Ministry, outlining performance parameters for the company in 2017-18, and set the revenue target at Rs 4,500 crore.
In its pact with the Department of Defence Production of Ministry of Defence, the company also listed its production line and the targets to roll out various platforms during the current financial year.
The MoU mentioned "significant milestones" to be achieved under 'Project 75' for constructing scorpene submarines. It also figures shipbuilding projects of like 15B for constructing destroyers and 17A for frigates.
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Six Scorpene-class submarines are currently being built under 'Project 75' of the Indian Navy. The submarines, designed by French naval defence and energy company DCNS, are being built by MDL in Mumbai.
"The revenue from operations has been targeted at Rs 4,500 crore," the defence ministry said.
The annual MoU was signed between Secretary, Defence Production, AK Gupta and Chairman and Managing Director of MDL Rakesh Anand.
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