Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has announced that it has received a Letter of Intent (LoI) from the Naval Physical & Oceanographic Laboratory (NPOL), under the Ministry of Defence, for the design, development, construction, and delivery of one Acoustic Research Ship (ARS).
Key Details of the Contract:
- Awarding Entity: Naval Physical & Oceanographic Laboratory (NPOL), DRDO, Ministry of Defence, Kochi
- Project Scope: Design, development, construction, equipment integration, testing, certification, and commissioning of one Acoustic Research Ship (ARS).
- Contract Value: Approximately ₹491 crore.
- Execution Timeline: The project is expected to be completed within 36 months from the signing of the contract.
Additional Information:
The project is considered a domestic order, and no involvement from promoter groups or related parties has been indicated. The detailed contract is still under finalization and will be signed in due course, with further updates to be provided to the stock exchanges after signing.
This development marks a significant step for GRSE, further solidifying its position in shipbuilding for India’s defense sector.
