Mumbai, April 7 Swan Defence and Heavy Industries Limited (SDHI), a shipbuilding and heavy fabrication firm, announced on Tuesday that it has secured an order from Energy ONE Ltd to construct four dual-fuel ammonia bulk carriers.
The first vessel under the Category 4 order is expected to be delivered in October 2029, with subsequent deliveries scheduled at four-month intervals, SDHI said.
An order valued between Rs 1,501 crore and Rs 3,000 crore falls under Category 4.
These Category 4 vessels 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.
The latest vessel order reflects the company's growing capability to execute complex, next-generation shipbuilding programmes aligned with the global transition toward green shipping, it said.
Measuring 229.5m in length with a beam of 37m, each of the vessels will be equipped with an ammonia-fuelled propulsion system.
"Winning this project is an important step forward for us. It reflects the confidence global stakeholders are placing in Indian shipbuilding, and in the capabilities we have developed at Pipavav," said Vivek Merchant, Director at Swan Defence and Heavy Industries Limited (SDHI).
New Energy is a general partner for the Jersey Channel Islands-based investment fund, New Energy One, which is committed to investing in new green assets, as per the company.
The vessels will be designed by KMS-EMEC, South Korea and classed by Det Norske Veritas (DNV), one of the leading Class societies in the world.
Ammonia as a marine fuel is still at an early stage, Merchant said, adding that the company has become part of that transition - building vessels that are not just relevant for today but aligned with where the industry is heading.
With a total capital investment program of USD 2 billion in zero emission ships, NEO is enabling industrial end users/producers of commodities to reduce their greenhouse gas emissions.
NEO has executed an initial pact with Sagarmala Finance Corp Ltd for the Maritime Development Fund to co-invest in green shipping projects as well, SDHI said.