Key PointsThe Defence Ministry signed a Rs 498 crore contract with Cochin Shipyard Ltd.The contract is for the refit and re-powering of the Indian Navys frigate INS Betwa.INS Betwas propulsion system will be upgraded from steam to diesel, and combat capabilities enhanced.The project aims to strengthen indigenous ship repair capabilities and support Aatmanirbhar Bharat.It is expected to involve MSMEs and generate significant employment opportunities.