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₹200 million-plus project aims to boost domestic shipbuilding under government push

Shipping Corp Invites Bids from Indian Yards to Build Four MR Tankers.                                                                                                                                                                   

The Shipping Corporation of India (SCI) has invited bids from Indian shipyards to construct four medium-range (MR) product tankers valued at over $200 million, marking a major step in the government’s plan to revive domestic shipbuilding. The tender, finalised after months of consultations with state-run oil companies and shipyards, will be the first instance in decades of an oil tanker being built locally. The tankers will be owned by a joint venture of SCI and oil marketing companies such as IOC, BPCL and HPCL, primarily for transporting petroleum products. The move mirrors China’s strategy of promoting local shipyards and aligns with India’s ambition to rank among the world’s top 10 shipbuilders by 2030. Under the tender terms, early delivery, quality and pricing will be key evaluation criteria. Shipyards lacking MR tanker experience must partner with reputed global designers or shipbuilders. The vessels must be built at the bidder’s own facility, with full outsourcing not permitted.