Using a $100-million line of credit extended to Vietnam in October 2014 by India, five vessels are being built at the Larsen & Toubro shipyard in Chennai, India, and seven at the Hong Ha Shipyard in Hai Phong under the company’s supervision.
The 12 high-speed patrol vessels are meant for the Vietnam’s Coast Guard.
Speaking at the launching ceremony on Monday, Indian ambassador to Vietnam, Pranay Verma, described the project “as an icon of India-Vietnam defense partnership” and reflecting India’s commitment toward building the capacity of the Vietnamese military.
He expressed confidence that the comprehensive strategic partnership and defense relations between the countries would continue to grow as an important factor of stability in the Indo-Pacific region.
The vessels are meant to strengthen security, detect illegal activities like smuggling and assist search and rescue.
Despite the disruptions caused by the Covid-19 pandemic, the project has progressed at a rapid pace, the Indian embassy said.
In December last year India handed over the first of the 12 vessels to Vietnam.