Vard unit wins Cochin Shipyard contract worth 150m Norwegian krone

A UNIT of designer and builder of specialised vessels Vard Holdings has secured a new contract for the delivery of an equipment and electrical installation package to Cochin Shipyard for a vessel under construction for the government of India.

The value of the contract secured by subsidiary Vard Electro AS is about 150 million Norwegian krone (S$24.7 million), the group said on Tuesday.

The new contract follows many years of cooperation between Vard and Cochin Shipyard, and includes support from Vard Electro's subsidiary in Kochi, India, situated close to the shipyard.

Cochin Shipyard is recognised as one of India's top public-sector shipyards, engaged in shipbuilding and ship repair in both the commercial and the defence sector.