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Garden Reach Secures Multi-Purpose Vessel Contract

Updated on: Dec 6, 2024, 3:03 PM IST
Garden Reach Shipbuilders & Engineers (GRSE) has signed a contract for the construction of additional Multi-Purpose Vessels (MPVs) .
Garden Reach Secures Multi-Purpose Vessel Contract
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Garden Reach Shipbuilders & Engineers (GRSE), a leading public sector shipbuilding company in India, has made notable strides both in the international maritime sector and in advancing indigenous defence technology. Recently, GRSE secured a significant contract for the construction of additional Multi-Purpose Vessels (MPVs) while also achieving a technological milestone with the delivery of India’s first Unmanned Surface Vessel (USV) to the Indian Navy.

GRSE Secures $108 Million Contract for Additional Multi-Purpose Vessels

Garden Reach Shipbuilders & Engineers (GRSE), a Central Public Sector Enterprise, has signed a contract for the construction of the second vessel in a series of four Multi-Purpose Vessels (MPVs) with Carsten Rehder Schiffsmakler and Reederei GmbH & Co, KG of Germany. The contract, worth approximately $54 million, will see the delivery of 7,500 DWT MPVs, part of a broader agreement for eight MPVs valued at $108 million. The remaining two vessels’ contracts will be finalised and disclosed soon. The construction of all eight vessels is set to be completed within 33 months from the signing date, marking a significant step in GRSE’s global expansion.

GRSE Delivers Indigenous Unmanned Surface Vessel (USV) to Indian Navy

In another significant achievement, GRSE has delivered the “Jaldoot” Unmanned Surface Vessel (USV) to the Naval Science and Technological Laboratory (NSTL) in Visakhapatnam. This vessel, developed through a collaborative effort involving GRSE, the Defence Research and Development Organisation (DRDO), and the start-up Rekise Marine, showcases India’s growing capabilities in indigenous defence technologies. The USV is a result of advanced research and development, enhancing GRSE’s commitment to fostering local innovation and leveraging start-up potential.

Garden Reach Shipbuilders and Engineers Share Performance

As of December 06, 2024, 2:19 PM, shares of GRSE  are trading at ₹1792.80 per share with a surge of 1.8% from its previous day’s closing price. Over the last month, the stock has seen a surge of 15.52%.

Published on: Dec 6, 2024, 3:03 PM IST

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