Garden Reach Shares Tick Up On Contract Win To Supply Double Lane Bridges For National Highways

Kolkata-based Garden Reach Shipbuilders & Engineers (GRSE) has signed a memorandum of understanding with the National Highway Infrastructure Development Corporation (NHIDCL). 

What Happened: Under the agreement, Garden Reach will be responsible for the fabrication, supply and launch of double-lane modular steel and bailey bridges for the NHIDCL. 

These bridges are designed to boost connectivity in crucial forward areas along India’s borders, facilitating seamless troop and equipment deployment, Garden Reach said in its press release. The double-lane steel bridge, developed by Garden Reach, is the only indigenous solution of its kind, the company said.

See Also: Cash-Strapped SpiceJet Falls Over 5% Over Regulatory Concerns

The bridges, with a carriageway width of 7.5 meters, are compliant with the Ministry of Road Transport and Highways (MORTH)’s specifications, built with high tensile steel to ensure high strength, long life and suitability for low-temperature applications, GRSE said.

The modular concept allows for easier transportation of bridge components to remote areas and faster erection of bridges within 30 to 45 days.

GRSE’s Portable Steel Bridge Division has supplied over 5,700 portable steel bridges to entities such as the Indian Army, Border Roads Organisation, NHIDCL, State Public Works Departments and the Central Government.

These bridges have also garnered international recognition, being exported to friendly nations including Bangladesh, Bhutan, Nepal, Myanmar and Sri Lanka.

Price Action: Shares of GRSE were trading 0.85% higher at ₹1,771.95 on Friday morning.

Read Next: Why RVNL Shares Are Climbing Over 1% In Early Trade Today