Garden Reach Shipbuilders & Engineers (GRSE) will be in focus on October 21 after securing a significant Letter of Intent (LoI) from the Ministry of Defence. The ₹491 crore contract entails the design, development, construction, integration of equipment, testing, certification, and commissioning of an Acoustic Research Ship (ARS) within a 36-month timeline.
Recent Contracts and Projects
Earlier in October, GRSE received two Letters of Acceptance for designing, building, operation and maintenance of Hybrid Electric Ferries under the West Bengal Inland Water Transport, Logistics and Spatial Development Project (WBIWTLSD), with the Transport Department, Government of West Bengal. The orders comprise 13 units valued at ₹226.18 crore comprising:
- 100 Pax Hybrid Electric Ferries: For cross-ferry operations, without air conditioning.
- 200 Pax Twin Deck Hybrid Electric Ferries: With air conditioning on the main deck.
These ferries are set to be completed in 30 months.
In September, GRSE also won a major order worth $54 million to design, construct, and deliver four additional multi-purpose vessels for Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. This international order enhances the reputation of GRSE in the global shipbuilding market.
Impact on Share Price and Business Outlook
The latest deals reflect GRSE’s increasing portfolio and order book in defense, domestic, and international markets. This might create a positive sentiment in the capital market and converse investors towards the military-cum-commercial capabilities of the shipbuilder.
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Source: Moneycontrol
News Desk
