Garden Reach Shipbuilders & Engineers Ltd said it sees defence shipbuilding opportunities worth around Rs 1.5 lakh crore beyond the proposed Next Generation Corvette project, as upcoming Navy and Coast Guard programmes move closer to tendering and execution.
The company outlined multiple upcoming projects during its post-results earnings call on Tuesday, including frigates, interceptor craft, mine countermeasure vessels and landing platform docks. Management said requests for proposals for some of the larger naval programmes are expected within the next three months.
"We expect the RFP to come out in the next three months," Chairman and Managing Director PR Hari said while referring to the P17 Bravo frigate programme. The seven-ship P17 Bravo programme is expected to carry an estimated value of around Rs 70,000 crore, according to the company.
GRSE also identified a 12-vessel mine countermeasure project valued at around Rs 32,000 crore and a landing platform dock programme worth nearly Rs 35,000 crore.
"These are the projects where AON has been accorded," Hari said. "This is the total estimated order that is to the tune of about Rs 1,50,000 crores, excluding of course the NGC project."
ALSO READ: GRSE Says Rs 33,000 Crore Navy Corvette Contract Could Be Signed This Quarter
Expansion Push
The company said it is expanding capacity to support future shipbuilding demand.
GRSE currently has the capacity to build 28 platforms and expects this to rise to 32 ships by the end of the calendar year.
The company is planning two brownfield shipbuilding facilities in West Bengal and two greenfield facilities in West Bengal and Gujarat. Management also pointed to growing opportunities in commercial shipbuilding after the government aggregated domestic demand for support vessels and tankers.
Among the projects currently open for bidding are platform support vessels, MR tankers, very large gas carriers and Aframax vessels. "With the revitalisation package for shipbuilding that has been promulgated by the government, we expect the commercial shipbuilding segment to gather momentum," Hari said.
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