GRSE has secured an additional order for four multi-purpose vessels from Carsten Rehder Schiffsmakler and Reederei GmbH & Co., KG Germany. This follows an initial contract signed in June 2024 for two vessels. The new order, totalling eight vessels in total, is valued at approximately USD 108 million. Each vessel will be 7,500 DWT and will be designed, built, and delivered by GRSE. The construction period for each vessel is estimated to be 33 months from the date of contract signing.
GRSE’s upgradation to ‘Schedule A’ CPSE status is a testament to its strong financial performance, operational excellence, and vital role in bolstering national security. This significant milestone, officially recognized by the Department of Public Enterprises on September 17, 2024, will empower GRSE to expand its senior management capabilities and fortify its position as a key player in the Indian shipbuilding industry.
On Wednesday, shares of Garden Reach Shipbuilders & Engineers Ltd plunged 0.49 per cent to Rs 1,717.25 with an intraday high of Rs 1,767.15 and an intraday low of Rs 1,705 from its previous closing of Rs 1,725.65.