Garden Reach Shipbuilders wins order worth ₹490 crore from Geological Survey of India

Garden Reach Shipbuilders & Engineers on Wednesday, April 9, said it has secured an order worth ₹489.98 crore from the Geological Survey of India.

The order is for the design, construction and delivery of two coastal research vessels.

It is set to be completed in 26 months from signing the contract.

On another note, Garden Reach Shipbuilders on Tuesday, April 8, inked an 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.

Last month, the company signed another MoU with PWD Nagaland for the supply of eight sets of Double Lane Modular Steel bridges in the state.

This the first ever MoU between Garden Reach and a North-Eastern state. The value of this transaction has not been specified by the company.

Garden Reach shares were down 3.21% at ₹1,515.6 apiece at 10.35 am on Wednesday, April 9.

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