Swan Defence and Heavy Industries Limited (SDHI) has officially signed a Letter of Intent with Norwegian shipowner Rederiet Stenersen AS for the construction of six advanced IMO Type II chemical tankers, each with a deadweight tonnage (DWT) of 18,000, in a deal valued at approximately $220 million. This agreement includes an option for an additional six vessels, reflecting confidence in SDHI’s capabilities within the maritime sector. The successful execution of this contract not only highlights India’s growing defense and industrial prowess but also strengthens international collaborations in shipbuilding. Such developments underscore India’s strategic intent to enhance its defense manufacturing base while expanding its footprint in global markets, thereby fostering economic growth and technological advancement.