Larsen & Toubro (L&T) has landed a $99.7-million contract from Vietnam Border Guard to design, construct and supply high-speed patrol vessels.
The contract also provides for L&T to transfer design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.
The high-speed patrol vessels are purpose-built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling, and undertaking search and rescue missions.
According to B. Kannan, Managing Director and CEO of L&T Ship-building Ltd., the contract provides for supply of 12 vessels. These would be delivered over 30 months, he added.
``They have given us their requirements,’’ he said. He was hopeful that the two sides would freeze the design within the next six months.
A combination of factors - ranging from its track record to design capability and execution skills - had clinched the deal in favour of L&T, he added.