The Ministry of Defence has approved Mazagon Dock Shipbuilders Ltd. (MDL) to begin price discussions for building 6 submarines under Project 75 (India), as per news reports. The estimated value of the order is ₹70,000 crore. The negotiations with Germany’s ThyssenKrupp Marine Systems are scheduled to start by the end of this month.
Earlier this year, MDL was selected as the Indian partner for the project. ThyssenKrupp will provide design and engineering expertise, while MDL will construct and deliver the vessels. The submarines will be equipped with Air Independent Propulsion (AIP) technology, which allows them to remain submerged for up to 3 weeks.
As per news reports, the negotiation process may take about 6 months. Once the terms are finalised, the agreement will move for final approval. The objective of Project 75 (India) is to enhance India’s ability to design and manufacture conventional submarines domestically.
The Indian Navy is expected to retire around 10 of its submarines in the next decade. To maintain operational strength, replacements are required within the same period. Alongside conventional submarines, India is also pursuing the development of two nuclear attack submarines, with Larsen & Toubro and the Submarine Building Centre playing significant roles.
Read more: Mazagon Dock Share Price in Focus After LIC Buys 3.27% Stake!
As of 10:46 AM on August 25, 2025, Mazagon Dock Shipbuilders share price was trading at ₹2,751, a 1.88% increase from the previous closing price. Over the past month, it has fallen by 6.5%, reducing gains for 2025 to about 20%.
The ₹70,000 crore submarine order is one of India’s largest defence procurement programmes. Its progress will be closely tracked as the Navy looks to upgrade its fleet.
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Published on: Aug 25, 2025, 10:50 AM IST
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