Pipavav Shipyard Ltd has announced with reference to the company receiving License to build Warships for Indian Navy, that it has also received clearance from Foreign Investment Promotion Board, ministry of finance, government of India which permits foreign direct equity investment.

The Company has obtained all statutory clearances required for warship building for defense sector.

The clearance will help the Company to bid for all future warship projects like frigates, destroyers, aircraft carriers, LPDs, submarine, corvettes etc. of Indian Navy.

(Sourced from Equity Bulls)