Pipavav eyeing tie up with European Companies

India’s largest heavy industry company Pipavav Defence and Offshore Engineering Company is in talks with European companies for a strategic partnership. Currently, it is planning to acquire a 24% stake in an European defence firm for raising Rs.900 crores for its naval warship building project for the Indian Navy. As of now, the company has an order book of Rs.6,600 crore out of which 60 percent of the orders are defence related.


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