Garden Reach Shipbuilders & Engineers Ltd. has secured a ₹491 crore contract to design, develop, and construct an Acoustic Research Ship (ARS).

What Happened: The Kolkata-based shipbuilding company disclosed in a regulatory filing on Friday evening that it has received a letter of intent from the Naval Physical & Oceanographic Laboratory (NPOL), Ministry of Defence DRDO, Kochi. The contract includes the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of one ARS.

The contract is expected to be completed within 36 months from the signing of the contract.

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This announcement comes on the heels of a series of achievements for PSU. In September 2024, the company was upgraded from ‘Schedule B' to ‘Schedule A' Central Public Sector Enterprise (CPSE) by the Government of India.

In early October, the shipbuilding company signed a contract for the fifth of eight multi-purpose export vessels with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG Germany. Later in the month, it secured a ₹226.18 crore contract for the design, construction, operation, and maintenance of hybrid electric ferries from the Transport Department, Government of West Bengal.

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