Swan Defence classifies orders in the ₹1,501 crore to ₹3,000 crore range as ‘Category 4’.
The first vessel is to estimated to be delievered in October 2029, with subsequent deliveries scheduled at four-month intervals.
The company said the order it received is first for the country. “These will be the first ammonia dual-fuel ships built in India and are also among the largest commercial vessels ever to be built at an Indian shipyard, representing a significant step forward in both technological capability and scale for the domestic shipbuilding industry,” the company said in an exchange filing.
The ships measure 229.5 metre in length with a beam of 37 metre. Each of them will be equipped with amonnia-fuelled propulsion system, it said. The vessels will be designed by KMS-EMEC, South Korea and classe dby Det Norske Veritas (DNV), one of the leading Class societies in the world, it added.
“Ammonia as a marine fuel is still at an early stage, and we are proud to be part of that transition – building vessels that are not just relevant for today but aligned with where the industry is heading,” Vivek Merchant, the company’s director, said.
Shares of Swan Defence and Heavy Industries Ltd. ended the previous session 5% higher at ₹1,706.8 apiece. The stock has declined 15.5% in the past month but has gained 155.5% in the last six months and 17.1% this year, so far.
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