Garden Reach Shipbuilders is responsible for designing, constructing, and delivering the boats as part of the $54 million deal, with a completion timeline of 33 months.
The boats will have a maximum draft of 6.75 meters and dimensions of 120 meters by 17 meters.
On June 22, Defense PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) and German companies Carsten Rehder Schiffsmakler and Reederei GmbH & Co KG signed a contract for the building and delivery of four multipurpose vessels, each with a displacement of 7,500 DWT, with the option to build an additional four ships shortly after.
Garden Reach Shipbuilders is responsible for designing, constructing, and delivering the boats as part of the $54 million deal, with a completion timeline of 33 months.
The boats will have a maximum draft of 6.75 meters and dimensions of 120 meters by 17 meters. 7,500 metric tons of goods may be transported by each of them. Each of the ships will have a single cargo hold that can store project, general, and bulk cargo. Hatch coverings will be used to transport containers. Large windmill blades may be carried on deck by many ships because to their special design.
According to an exchange filing filed by GRSE, "The agreement was signed between GRSE as well as M/s Carsten Rehder Schiffsmakler alongside Reederei GmbH & Co, represented by Cdr Shantanu Bose, Director (Shipbuilding) along with Carsten Thomas Rehder, Managing Director respectively in the presence of Cmde PR Hari, IN (Retd), Chairman & Managing Director, GRSE."
"Among senior officials, RK Dash, Director (Finance), GRSE, DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE, including Mr Jonas Meinhardt, Managing Director of M/s Carsten Rehder were present," said the statement.
The share price of Garden Reach Shipbuilders & Engineerrs Ltd ended at Rs 1,649.00 on Friday, a decrease of Rs 112.20 (6.37 percent).
Even though its revenue decreased for the quarter that ended in March 2020, GRSE recorded a 48 percent rise in net profit to Rs 49.69 crore. The shipbuilder had declared a net profit for the equivalent period of 2018–19 of Rs 33.62 crore. A statement added that total income dropped from Rs 539.17 crore in the same time last year to Rs 509.48 crore in the quarter under review, or a 5.51 percent decline.
The business produced the offshore patrol boat CGS Barracuda in 2014, which was sent to Mauritius. India's first warship export was this one. The fast patrol boat PS Zoroaster, manufactured by GRSE and delivered to the Seychelles, in 2021. Earlier this year, the ship came back to GRSE for a renovation that was finished in record time.
In addition, the shipyard is presently constructing a TSH dredger and six patrol boats for the Bangladeshi government. The Cooperative Republic of Guyana received the MV Ma Lisha, an oceangoing ferry capable of carrying both passengers and cargo, from GRSE in 2023. Right now, it's the biggest and most sophisticated boat in that nation.
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