Contracts worth Rs 53,866.50 crore for eight Next Generation Corvettes have been signed by the Indian Ministry of Defence. The ships will be built by Garden Reach Shipbuilders & Engineers and Goa Shipyard Limited. Designed in-house by the Indian Navy, these vessels will enhance maritime capabilities and replace ageing corvettes. The project aims to create significant job opportunities in the shipbuilding sector and ancillary industries.
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