Garden Reach Shipbuilders & Engineers Ltd (GRSE) has signed two new agreements during an official visit to Sweden and Denmark. The first was signed with Sweden-based Berg Propulsion, a well-known name in marine propulsion. The deal is expected to open up possibilities for building advanced propulsion systems together.
GRSE said the idea is to combine what each side does best GRSE’s manufacturing strength and Berg’s propulsion tech and use it for upcoming marine projects, both military and possibly commercial. They’ve made it clear that this partnership could help with Indian government contracts too, especially those where high-end propulsion systems are required.
A few days later, on June 6, GRSE signed another MoU, this time in Denmark. That one was with SunStone, a company that’s made its name in the expedition cruise space. The focus of that agreement is very different. Instead of propulsion, this deal is aimed at future cooperation in designing and possibly building expedition cruise vessels ships used for adventure tourism and remote sea travel.
For GRSE, which has mostly built ships for India’s Navy and Coast Guard, these two MoUs show a shift. They’re clearly trying to branch out not just in terms of geography but in terms of the kind of ships they want to build.
The company seems interested in expanding beyond defence and tapping into niche global markets like luxury expedition travel a space that’s small but growing. While both deals are still in early stages, they point to a broader goal: positioning GRSE as more than a defence shipyard and turning it into a player with global reach and a wider commercial portfolio.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.