Private Sector

HSL plans bid for submarine project

Hindustan Shipyard Ltd (HSL) is laying the ground to bid for and win the contract to build at least six submarines for Indian Navy, in partnership with Adani group, even as it is focused on completing its pending contracts on time, HSL chairman and managing director Rear Admiral (Retd) LV Sarat Babu said on Monday.

Speaking to TOI from Visakhapatnam, Sarat Babu said HSL has decided ‘in principle’ to set up a special purpose vehicle (SPV) with the Adani group. “The decision is in principle because it will have to be approved by the ministry of defence (MoD). Read More

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