Indian and overseas shipyards are battling to land a $95m ferry order for Kochi Metro Rail.
Domestic builder Cochin Shipyard and L&T are up against Dutch group Damen and Dubai's Grandweld to build 23 aluminium ships.
German Bank KfW is providing an INR 5.76bn ($81m) loan, with state funding amounting to INR 1bn.
The vessels must be ready by December as part of an INR 7.5bn
