Latest news with #MCMV
Time of India
26-05-2025
- Business
- Time of India
India revives Rs 44,000 crore plan to build warships that can detect and destroy underwater mines
India has restarted its plan to build 12 specialized warships that can detect and destroy underwater mines . These ships are critical to protect ports and maritime trade from enemy forces. The defence ministry is likely to present the proposal, worth around ₹44,000 crore, to the Defence Acquisition Council led by Defence Minister Rajnath Singh for approval, a TOI report stated. Tender to be issued soon for Indian shipyards According to defence ministry sources, the procurement will move ahead once the 'acceptance of necessity (AoN)' is granted. An open tender or request for proposal (RFP) will then be issued, inviting Indian shipyards to submit their technical and commercial bids. 'It will take at least 7-8 years, if not more, for the first MCMV to roll out after the contract is inked,' a source said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo Urgent need due to rising submarine activity These mine countermeasure vessels (MCMVs) are considered urgent due to the regular movement of Chinese submarines in the Indian Ocean Region. Chinese nuclear and conventional submarines can lay underwater mines quietly. Pakistan is also expanding its submarine fleet and is expected to receive eight new Yuan-class diesel-electric submarines from China. Live Events India's Navy currently has no dedicated MCMV in service. Earlier ships, including six Karwar-class and two Pondicherry-class minesweepers, have been retired. As a temporary solution, the Navy uses 'clip-on mine countermeasure suites' on other ships. However, the Navy needs at least 24 MCMVs to secure India's 7,516-km coastline, which includes 13 major ports and over 200 minor ones. Mines pose threat from state and non-state actors Underwater mines are low-cost and easy to deploy. Both state and non-state actors can use them to damage or destroy warships, merchant vessels, and tankers by blocking access to harbours and ports. The plan to acquire 12 MCMVs started in 2005. Goa Shipyard had partnered with South Korea's Kangnam to build the vessels. But the project, worth ₹32,000 crore, was cancelled by the Ministry of Defence in 2017-18 after disagreements over cost, technology transfer, and build strategy. New ships to include advanced mine detection systems Each MCMV will weigh around 900-1,000 tonnes and feature a non-magnetic hull. The ships will use high-definition sonar, acoustic and magnetic sweeps to locate mines. Remote-controlled underwater vehicles will then detonate the mines from a safe distance. Part of larger naval expansion plan The Indian Navy , which has over 130 warships, recently played a key role in Operation Sindoor by forward-deploying the aircraft carrier INS Vikrant, other warships, and submarines in the northern Arabian Sea to deter Pakistan. Currently, 60 warships and vessels are being built in Indian shipyards. The Navy will also commission INS Tamal, its second 3,900-tonne multi-role frigate built in Russia, next month in Kaliningrad. The Navy has also received initial approvals for 31 more warships, including seven new-generation frigates, eight corvettes, and six stealth submarines. However, due to delays in shipbuilding and retirement of older vessels, the Navy is expected to reach a fleet size of only around 160 warships by 2030.
Time of India
25-05-2025
- Business
- Time of India
With Rs 44,000 crore, India to revive minesweepers plan amid China threat
NEW DELHI: India has revived its long-pending case for the indigenous construction of 12 specialised warships to detect, track and destroy underwater mines laid by enemy forces to choke harbours and ports, disrupt shipping and maritime trade. Tired of too many ads? go ad free now Defence ministry sources said the procurement case for the 12 advanced minesweepers or mine countermeasure vessels (MCMVs) for the Navy, at an estimated cost of around Rs 44,000 crore, will soon be placed before the Rajnath Singh-led defence acquisitions council for the grant of "acceptance of necessity (AoN)". The "open tender" or RFP (request for proposal) will then be issued for Indian shipyards to submit their techno-commercial bids. "It will take at least seven to eight years, if not more, for the first MCMV to roll out after the contract is inked," a source said. MCMVs are crucial in the backdrop of Chinese nuclear and conventional submarines, which can quietly lay mines, regularly coming to the Indian Ocean Region. Pakistan, too, is rapidly adding to its underwater combat fleet, with eight new Yuan-class diesel-electric submarines to be delivered by China. Indian Navy, alarmingly, does not have a single MCMV at present, with its earlier six Karwar-class and two Pondicherry class of minesweepers having progressively retired several years ago. The force is making do with "clip-on mine countermeasure suites" mounted on some ships to plug the critical capability gap when it needs 24 MCMVs to guard the country's 7,516-km long coastline with 13 major ports and over 200 minor ones. Tired of too many ads? go ad free now Both state and non-state actors can choke harbours and ports by planting underwater mines, which are cheap and relatively easy to use, to blow up warships, merchant vessels and tankers. The acquisition case for 12 MCMVs had begun way back in July 2005, which eventually led to Goa Shipyard tying up with South Korea firm Kangnam to build the specialised vessels. The negotiations, however, remained deadlocked on the costs, technology transfer and build strategy. The Rs 32,000-crore project was finally scrapped by the ministry of defence in 2017-2018. With a displacement of around 900-1,000 tonne, MCMVs have non-magnetic hulls and high-definition sonars, acoustic and magnetic sweeps to detect marooned and drifting mines. The vessels then use remote-controlled systems like small underwater vehicles to detonate the mines at safe distances. The force currently has 60 warships and vessels under construction in Indian shipyards while it will also commission its second 3,900-tonne multi-role frigate built in Russia as INS Tamal at Kaliningrad next month.
Yahoo
13-05-2025
- Business
- Yahoo
MRV Engenharia e Participacoes SA (BSP:MRVE3) Q1 2025 Earnings Call Highlights: Strategic ...
Release Date: May 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MRV Engenharia e Participacoes SA (BSP:MRVE3) has shown consistent improvement in operational and financial indicators quarter over quarter. The company is confident in meeting its guidance for income, sales price, and margin for the year. MRV's exposure to the low-income housing market in Brazil positions it well to benefit from strong economic dynamics in this segment. The company has successfully implemented a deleveraging plan for its subsidiary, Reza, which is expected to generate significant cash flow in future quarters. MRV has made strategic adjustments to its operations and the MCMV program, enhancing its ability to deliver strong results and maintain its position as an industry benchmark. MRV Engenharia e Participacoes SA (BSP:MRVE3) reported losses from the sale of assets, including two plots of land and a project in Dallas. There are concerns about the impact of accounting changes on the income statement, particularly regarding the booking of sales of trade receivables. The company experienced a cash burn of 51 million in the quarter due to building 9,000 units and transferring 180. MRV's market share in the social housing program has decreased slightly, currently ranging between 8% and 10%, below its historical average. The company faces challenges in selling land at ideal prices due to a complex market environment, impacting profitability. Warning! GuruFocus has detected 5 Warning Signs with BSP:MRVE3. Q: Can you elaborate on your cash guidance, particularly the expected cash generation from operations and portfolio sales? A: Rafael Minni, CEO, explained that they are comfortable with the cash guidance. The operation is performing well, with sales improving monthly. The company expects cash generation to reflect operational development, with each quarter better than the last. Regional program issues are being addressed, and the impact of accounting changes was considered in the 2025 model. They anticipate resolving backlog issues by the end of the quarter. Q: Could you explain the rationale behind the review of land bank values and the sale of Dallas West? A: Rafael Minni, CEO, stated that the land bank review was due to zoning changes, increasing the value of certain plots. Regarding Dallas West, the cap rate improved, and the sale process was more competitive, indicating market improvement. They expect better profitability in future sales as projects are executed more efficiently and rental prices increase. Q: What is the expected capital release from Raza for MRV's operations, and how do recent changes affect Brazil's gross margins? A: Rafael Minni, CEO, noted that Raza aims to sell $800 million in assets by 2026, generating $500 million in cash. No capital from Brazil will be invested abroad, and Raza will repay its debt. In Brazil, recent changes in the MCMV program have improved gross margins, and MRV is well-positioned due to strategic adjustments. Q: Can you clarify the changes in accounting for sales of trade receivables and their impact on net income guidance? A: Ricardo Paal, CFO, explained that the accounting structure was changed to derecognize the risk and benefit of the portfolio, simplifying the income statement. The new model applies to Prosoluto transactions, and they are considering similar changes for Flex transactions. The net income guidance remains intact, with adjustments for the new accounting model. Q: How do you foresee the profitability of future Raza sales, and what is the plan for corporate debt repayment? A: Rafael Minni, CEO, stated that future Raza sales will have better profitability, with some projects achieving positive returns. The corporate debt repayment strategy is still under consideration, but Raza's deleveraging is progressing quickly, and they expect to settle project debts upon sale. Q: How has MRV's market share evolved, and what is the exposure to different social housing program brackets? A: Ricardo Paal, CFO, mentioned that MRV's market share in the social housing program is currently between 8-10%, with plans to return to the historical 10-12%. The introduction of bracket 4 has increased MRV's exposure to the social housing program, with 97-98% of inventory now within it. Q: What are the expected impacts of recent branding investments on future sales and expenses? A: Eduardo Fischer, CEO, noted that significant branding investments in Q1 have led to a strong customer funnel, setting the stage for robust sales in the coming quarters. While expenses increased due to these investments, they are expected to return to historical levels with sales growth. Q: Can you discuss the strategic focus on improving operational efficiency and productivity gains? A: Eduardo Fischer, CEO, highlighted that MRV is focusing on increasing commercial efficiency, productivity gains, and improved land bank purchases. These initiatives are expected to enhance operational efficiency and contribute to margin recovery beyond 2025, positioning MRV as a benchmark in the industry. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-02-2025
- Entertainment
- Yahoo
Mayor's Youth Council launching fundraising campaign
TERRE HAUTE, Ind. (WTWO/WAWV)—Monday, the Mayor's Youth Council announced their launch of its new fundraising campaign. The campaign will be run through the Indiana Housing and Community Development Authority's (IHCDA) CreatINg Places program. The campaign is set to run from Wednesday, February 12, through March 28. The fundraising is in an attempt to create an accessible playground in the city-owned Coy Park on the northside of Terre Haute. Through the partnership with the IHCDA, if the council can reach its fundraising goal of $35,000 the IHCDA will match it. 'We are thrilled to be part of the CreatINg Places and MCMV programs,' said Brandon Sakbun, Mayor of Terre Haute. 'This fundraising effort represents a fantastic opportunity for our young leaders to make a lasting difference in our community. The Mayor's Youth Council gives students in the Vigo County School Corporation firsthand experience in municipal government and leadership opportunities.' Citizens and businesses in Terre Haute are being encouraged to donate to the fundraiser to help fund park improvements in an area of town that could benefit from the revitalization. Those renovations include, a 'sensory dome' accessible playground structure, a see-saw, swings, and more. To donate or learn more about the campaign visit this link or scan the QR code below. This initiative is part of the My Community, My Vision program that empowers youth to engage in civic leadership and community development. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
