Indian SME Wins Rs 100 Crore Contract from Russian Shipyard

Mumbai, Dec 19 (PTI) Indian SME Krasny Defence Technologies on Tuesday said it has bagged a Rs 100 crore deal from Russia's largest commercial shipbuilding yard, SSK Zvezda, for electrical outfitting of two Ice-class LNG tankers.

The contract to be executed over the next two years was signed during the recent meeting of Eastern Economic Forum presided over by the Russian President Vladimir Putin at Vladivostok, a statement said.

The city-based small and medium enterprise was up against aggressive competition for the contract, including from Chinese companies who are already working with the shipyard, the statement said.

The contract was signed between Tseluyko Sergey Ivanovich, General Director of LLC Zvezda Shipbuilding Complex, and Cdr. (Dr.) VG Jayaprakasan (retd), the chairman and managing director of Krasny.

Krasny has incorporated a wholly owned subsidiary 'Krasny Kamen LLC' in the Advanced Special Economic Zone (ASEZ) of Bolshoi Kamen to execute the contract.

The company has been engaged in offering life cycle support of Russian-origin assets of the Indian Navy, repairs and maintenance of equipment as well as manufacturing of import substitutes, the statement said.