Garden Reach Shipbuilders gets Rs 6,311 crore Indian Navy contract
Garden Reach Shipbuilders and Engineers Limited (GRSE) emerged as the successful bidder for design, construction and supply of the eight ships.
The Defence Ministry on Monday awarded state-run ship builder GRSE a contract to build eight anti-submarine warfare shallow water crafts for Indian Navy at a cost of Rs 6,311 crore, officials said Monday. The request for proposal (RFP) for the project was issued by Indian Navy to state-run shipyards as well as to various Indian private ship builders in April 2014.
Garden Reach Shipbuilders and Engineers Limited (GRSE) emerged as the successful bidder for design, construction and supply of the eight ships. The first ship is to be delivered within 42 months, the defence ministry said, adding, subsequently, two ships will have to be delivered by GRSE per year. "The project completion time is 84 months from today," it said.
The GRSE is currently handling several major projects including constructing three stealth frigates for the Indian Navy under P17A Project and Anti-Submarine Warfare Corvettes for Indian Navy.
The contract was signed by Joint Secretary and Acquisition Manager (Maritime Systems) Ravi Kant on behalf of Defence Ministry and S S Dogra, Director (Finance) from GRSE.
The GRSE has been building a range of warships since its inception as a DPSU in 1960.
The 100 warships built by GRSE so far range from advanced frigates to anti-submarine warfare corvettes to fleet tankers, fast attack crafts.
"The present Project will further consolidate GRSE's position as a unique shipyard with all round capability to design and build Anti-Submarine Warfare Shallow Water Crafts (ASWSWC) warships with state-of-the-art technology," said the defence ministry.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How soon will monthly SIP of Rs 6,000, Rs 8,000, and Rs 10,000 reach Rs 5 crore corpus target?
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
Highest FD rates: Here's what SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are giving to senior citizens on fixed deposits
11:54 PM IST