HomeAatmanirbhar BharatGRSE share price: GRSE secures export order worth $54 mn from German...

GRSE share price: GRSE secures export order worth $54 mn from German co for commercial vessels

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Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd on saturday signed an agreement with Carsten Rehder Schiffsmakler and Reederei GmbH and Co. KG, a Germany-based shipping company, for the construction and delivery of four multi-purpose cargo vessels.

This contract, valued at around $54 million, is set to be completed within 33 months.

The official statement from GRSE indicated that there is an option for building an additional four ships in the future. These vessels will each measure 120 meters in length and 17 meters in width, capable of carrying 7,500 metric tonnes of cargo.

“The vessels will have a single cargo hold each to accommodate bulk, general and project cargoes. Containers will be carried on hatch covers. The ships have been specifically designed to carry multiple large windmill blades on deck,” the company further stated.

GRSE, a Kolkata-based warship maker, has been actively expanding into the maritime and commercial vessel markets. The company recently built and delivered an offshore patrol vessel to Mauritius, a fast patrol vessel to Seychelles, and a passenger-cum-cargo ocean-going ferry to the Cooperative Republic of Guyana.

Currently, GRSE is working on the construction of six patrol boats and a dredger for Bangladesh.The agreement was signed by Commodore Shantanu Bose (retd), director (shipbuilding) for GRSE, and Carsten Thomas Rehder, managing director for the German shipping company. The signing event also featured the Chairman and Managing Director of GRSE, Commodore P R Hari (retd).



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