Current Affairs - Business - Discussion

Ministry of Defence awarded contract for design, construction and supply of four Survey Vessels for Indian Navy to Garden Reach Shipbuilders & Engineers (GRSE) Limited, Kolkata. The order value for these four vessels is Rs. 2435.15 crore. The first ship is to be delivered within 36 months and remaining within an interval of six months for each vessel. The project completion time is 54 months from date of signing the contract. With this prestigious contract, GRSE's Order Book as on date stands at Rs. 22,604 crore. The GRSE is currently handling a major project to make three Stealth Frigates for Indian Navy under P17A Project.