Garden Reach shipbuilders aims 20 percent annual growth

Kolkata, April 16 (IANS) Garden Reach Shipbuilders and Engineers (GRSE) is expecting a turnover of over Rs.1,700 in the current fiscal and aiming to grow annually by 20 percent, a top official of the defence establishment said Tuesday.

“The GRSE is expecting to earn an annual turnover of over Rs.1,700 crore in the current fiscal. We have been growing a rate of 20 percent year-on-year and hope to continue the trend,” said GRSE chairman and managing director Rear Admiral A.K. Verma.

The mini-ratna company, which in 2014 will become the first Indian defence organisation to export a warship, is also looking forward to other countries for orders for manufacturing patrol vessels and warships.

“We have been showcasing GRSE’s shipbuilding capabilities internationally, and many countries including some Latin American, African and Gulf Countries have expressed interest and we are in talks with them,” said Verma.

The GRSE will deliver an offshore patrol vessel (OPV) to Mauritius in 2014, thereby becoming the first Indian defence company to build and export a warship.

After the completion of Rs.600 crore modernisation by May this year, the shipyard’s capacity will be doubled. Currently the GRSE can build two large and three small ships at a time.

Verma said the company’s order book was healthy with 25 ships on order, of which six ships have been delivered and the remaining 19 to be delivered by 2016.

“The company aims to enhance its profile internationally and we want to increase our specialisation in building stealth frigates. We have already a MoU with Indian Institute of technology Kharagpur and might enter into partnership for designs with other national institutes,” added Verma.

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