GRSE Secures ₹1,032 Cr ONGC Contract for 4 Supply Vessels

State-owned defence shipbuilder Garden Reach Shipbuilders & Engineers Ltd (GRSE) has emerged as the lowest bidder (L1) to construct four Platform Supply Vessels (PSVs) for Oil and Natural Gas Corporation Ltd (ONGC). Quoting ₹258 crore per vessel, GRSE beat out competitors including Cochin Shipyard, Hindustan Shipyard, L&T Shipbuilding, and Titagarh Naval Systems. This marks the first major commercial shipbuilding contract finalized under the government’s ₹69,725 crore initiative to boost domestic maritime manufacturing. Supported by a 15–20% government financial assistance scheme, the contract significantly expands GRSE’s commercial shipbuilding portfolio.

News by Rahul Yelligetti.