Pipavav Defence and Offshore Engineering Company received new order worth Rs 595 crore with option to supply two more specialized offshore ships valued at Rs. 1200 crore from a European client. Overall global market's need for similar specialized offshore ships is nearly USD 10 BN per year.
Its offshore division is constantly increasing the clientele in the global market due to significant development .The company intends to increase its market share in the offshore segment substantially over the next four quarters.
Pipavav Defence and Offshore Engineering Company is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.