- 09 Apr 2025
- ICICIdirect Research
GARDEN REACH SHIPBUILDERS AND ENGINEERS LIMITED HAS ENTERED INTO NON-BINDING MEMORANDUM OF UNDERSTANDING (MOU) WITH M/S SWAN DEFENCE AND HEAVY INDUSTRIES LTD
GRSE - 1917 Change: -40.80 (-2.08 %)News: Garden Reach Shipbuilders and Engineers Limited has entered into non-binding Memorandum of Understanding (MoU) with M/s SWAN Defence and Heavy Industries Ltd., to boost Indigenous Commercial Shipbuilding capabilities. This MoU represents a significant step towards strengthening domestic expertise in the commercial shipbuilding sector. Both the shipyards will collaborate on a non-exclusive basis for the construction of commercial vessels and offshore structures, with a focus on global clients and national maritime interests.
View: The MoU opens new opportunities for the company as SWAN defence has India’s largest shipbuilding fabrication capacity of 4,00,000 DWT, higher than Cochin Shipyard's 1,10,000 DWT. This puts GRSE in the position to cater to the opportunities in larger vessels and growing commercial ship-building & ship-repairing sector in the nation.
Impact: Positive