Kolkata: In a development that speaks volumes about the company’s shipbuilding expertise, business acumen and proficiency in design, production and financial management, Garden Reach Shipbuilders and Engineers (GRSE) Ltd has emerged as the lowest bidder (L1) for the construction of Next Generation Corvettes (NGC) for the Indian Navy.
GRSE is the only Indian shipyard to have delivered 111 warships to the country’s maritime forces and friendly foreign nations, including 06 Missile Corvettes ( Khukri & Kora Class) and 04 ASW Corvettes (Kamorta Class). The shipyard participated in the competitive bidding process and has emerged as lowest bidder. GRSE will thus be awarded the contract to build five (05) Next Generation Corvettes at an estimated cost of approx. Rs 25,000 crore.
These Next-Generation Corvettes shall be capable of fulfilling the roles of Offensive SSM attack, Anti-Missile Defence, Surface Action Groups for Maritime Strikes, ASW and many other Maritime Operations. The warship will also incorporate Green Warship design features, energy efficient and environment friendly technologies.
GRSE is already building four Next Generation Offshore Patrol Vessels (NGOPV) for the Navy, apart from three Advanced Guided Missile Frigates, eight Anti-Submarine Warfare Shallow Water Crafts of which one has already been delivered to Indian Navy and four Survey Vessels (Large) of which two have been delivered.
Meanwhile, on anticipated lines, the order for an Ocean-Going Tug for Bangladesh stands cancelled based on mutual discussions between GRSE and the Customer. This order though would not have impact on GRSE’s finances as the order is worth only US$ 21 million (approximately Rs 179.75 crore) and would have contributed a mere 0.8% to GRSE’s existing order book of Rs 22,680.75 crore as on March 31, 2025.
