GRSE expects up to Rs 70,000 Cr from upcoming Navy Projects

KOLKATA : Garden Reach Shipbuilders and Engineers Ltd. said the Indian Navy’s planned P17 Bravo warship project carries an Acceptance of Necessity valued at around Rs 70,000 crore, and will be executed by two shipyards.

While the request for proposal has not yet been issued, the company expects it to come during the calendar year, The shipbuilder’s Chairman and Managing Director PR Hari said during the company’s March quarter earnings call.

“P17 Bravo project… two shipyards would be involved… with the total AON value to the tune of around Rs 70,000 crores,” Hari said.

The Kolkata-based Garden Reach Shipbuilders is a public sector company that builds and repairs commercial and naval vessels. It primary client includes the Indian Navy and Indian Coast Guard.

The company said it is preparing to bid for the project and expects to submit a competitive proposal, supported by its current execution of the three P17 Alpha frigates.

Hari added that Garden Reach also plans to bid for several other projects where AoNs have been granted.