The ship building company announced that it has received a notification of award of contract worth Rs 1,486.40 crore from Oil & Natural Gas Corporation (ONGC).
The company bagged a contract for pipeline replacement project 8 Group A (PRP 8 Group A) on EPC reimbursable basis (OBE) at the ceiling price of Rs 1486,40,32,996.
The project is to be executed within 28 February 2026.
Mazagon Dock Shipbuilders is principally engaged in building and repairing of ships, submarines, various types of vessels and related engineering products for its customers.
Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held 58.89% stake in ONGC as of June 2024.
Shares of Mazagon Dock Shipbuilders shed 0.73% to Rs 4,368.05 while those of Oil and Natural Gas Corporation slipped 3.92% to Rs 296.80 on the BSE.
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