Garden Reach Shipbuilders and Engineers Limited (GRSE) has taken another strategic step towards diversification and expansion of its product portfolio by signing a Memorandum of Understanding (MoU) with K2 Cranes & Components Pvt Ltd. The agreement was signed on Wednesday, January 28, 2026, and focuses on the design, development and manufacture of marine, defence and shipyard cranes along with associated equipment.
The MoU marks a significant move by GRSE to broaden its engineering and manufacturing capabilities beyond its core warship-building operations. Under this collaboration, both companies will jointly explore business opportunities for cranes used in marine, defence and shipyard applications in India as well as international markets.
The agreement was signed by Cmde Ramesh Menon MS (Retd), Chief General Manager (BB&DEP), GRSE, and Shri M Udayakumar, Managing Director of K2 Cranes & Components Pvt Ltd, in the presence of GRSE Chairman and Managing Director Cmde PR Hari, IN (Retd), along with other senior officials from both organisations. The presence of GRSE’s top leadership highlights the strategic importance of this partnership for the company’s long-term growth plans.
This collaboration aligns strongly with the Government of India’s Atmanirbhar Bharat vision and the broader ‘Make in India, Make for the World’ initiative. The indigenous manufacture of cranes and related equipment is expected to significantly reduce dependence on imports, strengthen domestic defence manufacturing capabilities, and enhance India’s export potential in specialised engineering equipment.
Through this partnership, GRSE and K2 Cranes aim to develop technologically advanced and cost-effective solutions tailored for defence, marine and shipyard requirements. The initiative is expected to create new revenue streams for GRSE while leveraging K2 Cranes’ expertise in crane design and manufacturing.
