Garden Reach Shipbuilders and Engineers Ltd. said the Indian Navy's planned P17 Bravo warship project carries an Acceptance of Necessity valued at around Rs 70,000 crore, and will be executed by two shipyards.
While the request for proposal has not yet been issued, the company expects it to come during the calendar year, The shipbuilder's Chairman and Managing Director PR Hari said during the company's March quarter earnings call.
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“P17 Bravo project… two shipyards would be involved… with the total AON value to the tune of around Rs 70,000 crores,” Hari said.
The Kolkata-based Garden Reach Shipbuilders is a public sector company that builds and repairs commercial and naval vessels. It primary client includes the Indian Navy and Indian Coast Guard.
The company said it is preparing to bid for the project and expects to submit a competitive proposal, supported by its current execution of the three P17 Alpha frigates.
Hari added that Garden Reach also plans to bid for several other projects where AoNs have been granted. These include:
12 mine countermeasure vessels worth Rs 32,000 crore
Six next-generation offshore patrol vessels
Two multi-purpose vessels
31 follow-on waterjet fast attack crafts
120 fast interceptor crafts
At present, two current tenders are active—one for five next-generation survey vessels and another for 18 fast patrol vessels for the Indian Navy and Coast Guard, respectively.
As of March 31, the company's order book stood at Rs 22,680 crore. This includes orders for three P17 Alpha frigates, 16 anti-submarine shallow water crafts, four next-generation offshore patrol vessels, eight ships for a German client, and several other defence and non-defence platforms.
Garden Reach said it plans to increase its shipbuilding capacity from 24 to 28 ships by the end of 2025 and is also evaluating options for a greenfield facility outside Kolkata.
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