1 week Ago
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has inked a Memorandum of Understanding (MoU) with SWAN Defence and Heavy Industries Ltd to boost indigenous capabilities in commercial shipbuilding. The collaboration will focus on constructing commercial vessels and offshore structures, with an eye on both global clients and national maritime interests. The two shipyards will work together on a non-exclusive basis, aiming for faster project execution and cost optimisation by leveraging a mutually beneficial vendor ecosystem.
The commercial shipbuilding sector in India is estimated to present an opportunity worth ₹12,000–15,000 crore annually over the next 12–15 years. Key growth segments identified include coastal shipping, dredgers, ferries and cruise vessels, and gas carriers. GRSE, a leading defence public sector undertaking, currently derives 85% of its revenue from shipbuilding activities.
The move signals its intent to diversify its portfolio and strengthen its footprint in the commercial segment, in line with the government’s ‘Aatmanirbhar Bharat’ push. Also read: Mazagon Dock Partners with Goa to Deploy AI-Powered Disaster Management System Following the announcement, shares of GRSE rose 2.45% to ₹1,566.
55 on the BSE at 1:24 PM. The market reacted positively to the company’s strategic expansion into commercial shipbuilding, anticipating long-term benefits from this collaboration..
