Kolkata: Defence Shipping constructing PSU, Garden Reach Shipbuilders and Engineers Limited has provisionally announced that it has become the lowest bidder for the construction of a Research Vessel from DRDO.

The order has not been confirmed yet and has been provisional until further announcement.

As per the exchange filing, Under Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “SEBI Listing Regulations”), we wish to inform you that the Company has become Lowest bidder (L1) for construction of a Research Vessel for Defence Research and Development Organisation (DRDO). The order value is likely to be Rs 500 crores approx., stated the company.

The company stated that the contract is currently under negotiation and has not yet been signed.