GRSE signs MoUs in Sweden and Denmark to boost marine systems, enter expedition cruise segment

Defence PSU, Garden Reach Shipbuilders & Engineers Ltd (GRSE) on Saturday (June 7) said it has signed a Memorandum of Understanding (MoUs) during an official delegation visit to Sweden and Denmark, aiming to strengthen its marine engineering portfolio and explore opportunities in expedition cruise vessels.

In Sweden, GRSE entered into an MoU with Berg Propulsion, a global leader in marine propulsion systems. This partnership is geared towards the joint development and manufacturing of propulsion-related equipment and systems. The collaboration will focus on leveraging the technical know-how of both companies, particularly for ongoing and upcoming government projects.

"Garden Reach Shipbuilders & Engineers Limited (GRSE), with its long-standing excellence in supplying marine engineering products, signed a MoU with M/s Berg Propulsion, Sweden, a global leader in the development, manufacturing, and supply of marine propulsion systems," according to a stock exchange filing.

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On June 6, GRSE inked another MoU with Denmark-based SunStone, a leading provider of expedition cruise vessels. This agreement lays the groundwork for future collaboration in the design and development of such vessels.

"On 6 Jun 2025, GRSE signed a MoU with M/s SunStone, Denmark, a leading provider of expedition cruise vessels. This MoU sets the stage for future collaboration in the areas of expedition cruise vessels," it said.

On Friday (June 6), shares of Garden Reach Shipbuilders and Engineers Ltd ended at ₹3,246.90, down by ₹159.75, or 4.69%, on the BSE.

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