Garden Reach Shipbuilders & Engineers Ltd (GRSE) has received two significant contracts, bolstering its position in the shipbuilding industry. Today, GRSE announced securing a ₹226.18 crore (excluding GST) contract from the Transport Department, Government of West Bengal, for the design, building, operation, and maintenance of 13 hybrid electric ferries. The project, to be completed within 30 months, includes 100-passenger non-AC and 200-passenger AC ferries for cross-ferry operations.
The shares of Garden Reach Shipbuilders & Engineers Ltd (GRSE) were trading at ₹1,667.70 up by ₹9.30 or 0.56 per cent on the NSE today at 1.15 pm.
In a separate development, GRSE signed a contract on October 3, 2024, with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG Germany for the construction of a 7,500 DWT multi-purpose vessel (MPV). This marks the fifth of eight vessels in a larger order valued at approximately $108 million. The MPVs, designed to carry bulk, general, and project cargoes, including large windmill blades, will measure 120 meters in length and 17 meters in width.
These contracts underscore GRSE’s expanding portfolio in both domestic and international markets, showcasing its capability to deliver diverse vessel types for various applications.