Kolkata-based shipbuilding company, Garden Reach Shipbuilders & Engineers has secured a contract to construct and deliver four multi-purpose vessels, each with a capacity of 7,500 DWT (Deadweight tonnage).
What Happened: The PSU announced the news on Saturday, June 22, 2024. Carsten Rehder Schiffsmakler and Reederei, a German shipbuilding entity awarded the contract.
The contract involves the design, construction, and delivery of the vessels, each capable of carrying 7,500 metric tonnes of cargo. The vessels, specifically designed to carry multiple large windmill blades on deck, will be 120 metres long and 17 metres wide with a maximum draft of 6.75 metres.
The contract, valued at approximately $54 million (around ₹448 crore), is expected to be executed within 33 months.
Shares of the defence company have been on a strong bull run at the bourses. In just the last six months, the stock has gone up over 100%. The company has a strong order book at around ₹22,792 crore. The government holds a 74.50% stake in the company.
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