On Monday, Larsen and Toubro (L&T) and the Spanish shipbuilding company Navantia announced a collaboration to make a techno-commercial offer for the Indian Navy’s P75 (India) submarine programme. They will now compete for the offer, which is expected to be solicited soon, with Mazagon Dock and Germany’s ThyssenKrupp Marine Systems. This is one of India’s greatest defence projects, worth roughly Rs 43000 crore.
On April 11, L&T and Navantia signed an MoU for the programme in Madrid, which has now resulted in this bid. On June 7, Mazagon struck an agreement with ThyssenKrupp. Five companies expressed interest, and these two were chosen. Spain supports completely the idea of make in India and this agreement will take that forward, said Jose Maria Ridao, Spain’s Ambassador to India, after the signing of the agreement, adding that the Spanish government is engaged with the idea of transferring technology to its ally India.
The six stealth submarines will be built for the Indian Navy under the Ministry of Defence’s Strategic Partnership model, which requires foreign companies to collaborate with domestic builders. L&T and Navantia are also looking to collaborate on other military programmes as well as green energy opportunities, such as offshore wind, through Navantia Seanergies.
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