ABG Shipyard will build four cement carriers for Singapore-based Associated Bulk Carriers (ABCL) for $114m.
Each vessel, with a capacity up to 20,000t, will cost ABCL $28.5m, according to seatradeasiaonline.com.
The Indian shipbuilder expects the vessels to be delivered between August 2011 and April 2014.
The shipyard has an existing order book of $2.65bn.
In August 2008 ABG booked its last order for two oil drilling rigs for Essar Oilfield Services, a subsidiary of Essar Group, for $530m.