The agreement, also involving Alar Infrastructure, aims to develop and retrofit offshore construction vessels, pipe laying vessels, and multi-purpose offshore support vessels at Swan Defence and Heavy Industries (SDHI)'s Pipavav Port, Gujarat shipyard. The partnership targets strengthening India’s indigenous shipbuilding under Make in India and Atmanirbhar Bharat, and seeks to provide cost-competitive solutions for global offshore vessel markets.
Swan Defence, formerly known as Reliance Naval and Engineering, is a shipbuilding and heavy fabrication company in India. Strategically located on the west coast of India, the shipyard operates the country’s largest dry dock (662m x 65m) and has a fabrication capacity of 144,000 tons per annum.
On a consolidated basis, Swan Defence and Heavy Industries reported net loss of Rs 31.17 crore in Q1 June 2025 as against net loss of Rs 51.45 crore in Q1 June 2024. Net sales stood at Rs 0.42 crore in Q1 June 2025. No sales were reported in the same quarter last year.