Garden Reach inks MoI for four multi-purpose vessels

5 Jun 2025 , 11:34 AM

Garden Reach Shipbuilders and Engineers Ltd. witnessed as much as 4% surge in its share price on Thursday after the company announced that it has entered into an agreement with Germany-based Carsten Rehder.

At around 11.17 AM, Garden Reach was trading 2.95% higher at ₹3,455.50 per piece, against the previous close of ₹3,356.50 on NSE. The counter touched an intraday high and low of ₹3,521.30, and ₹3,310, respectively.

According to the company’s filing with the bourses, the MoU is related to construction of four multi-purpose vessels. The contract finalization is expected by August 31.

GRSE also informed that it has various pacts with multiple global partners. This marks a strategic move for expansion of its pipeline beyond defence platforms. 

As per its filing, the business entered into a  memorandum of intent with Carsten Rehder Schiffsmakler und Reederei. The MoI is for supply of four follow-on 7,500 DWT multi-purpose vessels. These ships will be an add-on to existing eight vessels under construction at GRSE’s Kolkata yard. The stated new vessels will have hybrid propulsion systems and will comply with the latest cybersecurity standards.

Additionally, GRSE also inked a pact with M/s Aries Marine to expand its global footprint in the overseas market by entering into partnerships for platform designs from Aries and building them at GRSE facilities.

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