Garden Reach strikes ₹491 crore deal with NPOL for acoustic research ship
“…we wish to inform you that the company has received letters of Intent of Award for Contract for Design, development, construction, Integration of Equipment, Testing, certification, commissioning & supply of One Acoustic Research Ship (ARS) from Naval Physical & Oceanographic Laboratory, Gol, Ministry of Defence DRDO, Kochi,” according to a stock exchange filing.
The contract, valued at approximately ₹491 crore, also includes the equipment integration, testing, certification, and commissioning of the vessel. The project is to be completed within 36 months from the signing of the contract.
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In October’s first week, Garden Reach Shipbuilders received two letters of acceptance of the award for contract for the design, build, operation and maintenance of hybrid electric ferries under the WBIWTLSD Project of the Bengal government.
Per the West Bengal government’s order, the company will design, build, operate and maintain 100 hybrid electric ferries for cross-ferry operation – non-AC and 200 twin-deck hybrid electric ferries for cross-ferry operation – with AC on the main deck.
Also it said it has signed a contract for the construction and delivery of one of the four additional multi-purpose vessels of 7500 DWT. According to the next order, the company said it inked an agreement with Carsten Rehder Schiffsmakler and Reederei GmbH & Co KG Germany to construct and deliver the fifth multi-purpose vessel of 7,500 DWT.
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“This contract is in line with the ‘option agreement’ signed between both the parties, for procurement of four additional MPVs from Garden Reach Shipbuilders,” the company said in a stock exchange statement.
Shares of Garden Reach Shipbuilders & Engineers Ltd ended at ₹1,756.00, up by ₹12.20, or 0.70% on the BSE.
