Press Releases 2023-24 - Quarter 1

PRESS RELEASE

DIG Subrato Ghosh, ICG (Retd.) takes over as Director (Personnel) of Garden Reach Shipbuilders & Engineers (GRSE) Limited

Kolkata, 20 Jun 2023: DIG Subrota Ghosh ICG (Retd.), took over as Director (Personnel) of Garden Reach Shipbuilders & Engineers (GRSE) Ltd. on June 20, 2023. DIG S Ghosh is a highly qualified and experienced mechanical engineer, he has played a key role at GRSE, in the delivery of Indian Navy and Indian Coast Guard ships as the General Manager of Rajabagan Dockyard, GRSE, and then as Chief General Manager (Bailey Bridge & Diesel Engine Plant), GRSE, prior to assuming charge as Director (Personnel) today. The 100th Warship from GRSE was delivered from Rajabagan Dockyard during his tenure. DIG Subrato Ghosh, ICG (Retd.), served in the Indian Coast Guard for over 25 years prior to joining GRSE in the year 2016.

DIG Subrato Ghosh, ICG (Retd.) completed his Bachelor's Degree in Mechanical Engineering from Dayalbagh Educational Institute, Agra, and has done his Master's in Engineering (Mechanical Marine) from Pune University. He also holds a Master's in Business Administration from Jamia Milia Islamia University New Delhi. He has also undergone Advance Marine Engineering Course from the Institute of Armament Technology, Pune.

He has had an illustrious career in the Indian Coast Guard, during which he held various prestigious appointments, which included Chief Staff Officer (Technical), Principal Director (TS & IT), and Project Officer (PCVs). He has also held six afloat appointments during his career in the Indian Coast Guard.

DIG Subrato Ghosh, ICG (Retd.), has proven experience and ability to work with multiple stakeholders under conflicting priorities and stringent deadlines and deliver results consistently with stated objectives. He has vast experience in shipbuilding as well as in ship repairs.

PRESS RELEASE

Taking Giant Strides Towards Aatmanirbharta - GRSE signs MoU with Kongsberg Maritime for Licensed Production of Water Jets in India

Kolkata, 19 Jun 2023: Garden Reach Shipbuilders and Engineers (GRSE) Ltd and Kongsberg Maritime (KM), Finland signed a Memorandum of Understanding (MoU) for co-production of indigenous Water Jets (WJs) of up to 3.5 MW on Monday, June 19, 2023.

The MoU was signed by Cmde P R Hari, IN (Retd), Chairman and Managing Director, GRSE and Mr Ottar Ristesund, SVP, Sales, Propulsion and Engines, Kongsberg Maritime (KM), in the presence of Vice Admiral Sandeep Naithani, AVSM, VSM, Chief of Materiel, Indian Navy.

Waterjet Propulsion Systems are extensively used onboard Indian Navy & Indian Coast Guard ships and therefore, this collaborative effort of GRSE & Kongsberg Maritime (KM) has huge market potential in the coming years.

Taking giant strides towards Aatmanirbharta, GRSE had earlier signed a MoU with M/s Rolls Royce for co-production of high speed Marine Diesel Engines. The shipyard has also recently signed a contract worth (Approx.) Rs 250 Crs for manufacture and supply of 30 MM Naval Surface Guns to the Indian Navy.

PRESS RELEASE

SCALING NEW HEIGHTS - GRSE LAUNCHES TWO WARSHIPS AND LAYS KEEL OF THIRD ON SAME DAY

Kolkata, 13 Jun 2023: Garden Reach Shipbuilders and Engineers (GRSE) Ltd set a new standard in shipbuilding by launching two warships of different classes together on 13 Jun 23. The keel of a third vessel was also laid, highlighting GRSE's professional approach towards the timely delivery of warships to the Indian Navy.

INS Anjadip, the 3rd Anti-Submarine Shallow Water Craft (ASW SWC) was launched by Smt. Priya Pandit, wife of Vice Admiral R B Pandit, PVSM, AVSM, Commander-in-Chief, Strategic Forces Command, while INS Sanshodhak, the 4th Survey Vessel Large (SVL) was launched by Smt. Tanvi Arora, wife of Vice Admiral Adhir Arora, AVSM, NM, Chief Hydrographer to the Government of India. Keel for the 7th ASWSWC being built by GRSE was also laid during the day, in the august presence of Vice Admiral R B Pandit, PVSM, AVSM, Commander-in-Chief, Strategic Forces Command.

Those present at the ceremony included Vice Admiral Kiran Deshmukh AVSM, VSM, CWP&A, Vice Admiral Adhir Arora, AVSM, NM, Chief Hydrographer, to the Government of India, Cmde P R Hari IN (Retd), Chairman and Managing Director, GRSE, and Senior Officials from Indian Navy & GRSE.

GRSE is now building eight ASWSWCs and four SVLs for the Indian Navy and the Ships are at various stages of completion. The INS Anjadip was the third vessel of this series to be launched and INS Sanshodhak is the fourth and last in the series of SVLs being built by GRSE.

INS Anjadip is named after an island close to India's Western coast that is now part of Indian Naval base INS Kadamba. Anjadip offered strong resistance in 1961, when India took back Goa from the Portuguese. The island also has a memorial for the brave Indian marines who were martyred there. This ship is also the reincarnation of a soviet era ASW Ship of the Indian Navy which was decommissioned in Dec 2003.

ASWSWCs require less draft and can operate close to the coast, searching for underwater threats and neutralizing enemy assets such as midget submarines and mines. Equipped with advanced sonar and armed with the latest weaponry, such as lightweight torpedoes and ASW rockets, these warships will pack a tremendous punch, once they become operational.

Sanshodhak in Hindi stands for "discoverer or investigator". This is an apt name for the SVL that will be carrying out hydrographic surveys to chart the ocean floor and provide valuable information on our seas and oceans for defence purposes.

GRSE has been moving from strength to strength to develop itself into one of the top shipbuilders in the world. It has also been contributing to the Government's Atmanirbharta efforts through indigenisation. Ships built by GRSE now have nearly 90% indigenous content.

Speaking at the occasion, Vice Admiral R B Pandit said, "I note with a sense of pride that GRSE, over the last six decades has grown in capability delivering over 100 warships to the nation. These range from Fast Patrol Vessels to Landing crafts, Survey Vessels, Corvettes, Frigates and Fleet Tankers, reflecting a very high degree of competence and capability nurtured by the Yard over the years. GRSE as a result of its sustained good work has gained recognition worldwide, and I am confident that the shipyard will scale greater heights in the years to come. I further congratulate GRSE & L&T Shipbuilding for a successful partnership. The collaboration between the two is a befitting example of a Public-Private partnership which is a desired framework for the indigenous warship construction capabilities. This successful model will be closely watched and I am sure it would set the path for similar future collaborations in warship construction in our country. Given the positive spirit and enthusiasm, I see today in the entire warship-building ecosystem in our country, I am confident that this will grow from strength to strength and contribute to the economic well-being of our nation way beyond its fair share."

Cmde P R Hari said, "This is indeed a very momentous occasion, that we are here to launch two ships, that too of two different warship building projects concurrently. I am also happy to inform you that we will also be laying the keel of another vessel, an Anti-Submarine Shallow Water Craft and therefore this is an event where we will be setting new standards." He further added, "The ASW Shallow watercraft project has 08 ships, and the Survey Vessel Large Project-04 ships, we launched the first SVL on the 5th of December 2021 and thereafter we have been launching a ship every six month with the last ship being launched today. As far as the ASW Shallow watercraft project is concerned, we launched the first ship on 20th of December 2022, and are churning out a ship every 03 months and we intend maintaining this tempo. I am very confident that the next phase, that is from launch to delivery is much much tougher and together Navy, GRSE and our partners, shall be able to meet the expectations in terms of delivery and quality."

While appreciating the efforts of all stakeholders in making the two ship concurrent launch a reality, Cmde PR Hari said, "The Indian Navy, The Naval headquarters, the Production Directorates, the Directorates of Ship Production, the Warship Design Bureau, the professional directorates have proactively and positively approached problems not only from the technical perspective but also from the project perspective and that is a very positive change that we have observed during the course of these projects"

PRESS RELEASE

Towards a Greener Future: GRSE observes World Environment Day 2023

Kolkata, 05 Jun 2023: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), commemorates World Environment Day 2023 by organizing a series of impactful events aimed at promoting environmental awareness and sustainable practices. With the active participation of its executives and employees, GRSE reaffirmed its commitment to environmental stewardship and a greener future.

As part of the World Environment Day celebrations, a Tree Plantation drive was conducted at the GRSE premises in Kolkata on 05 June 23. The event witnessed the involvement of the Chairman & Managing Director, GRSE, Cmde PR Hari IN(Retd.), Director (Finance) & Additional Charge Director (Personnel), GRSE, Shri R.K. Dash, Director(Shipbuilding), GRSE, Cdr. Shantanu Bose, IN (Retd.), Chief Vigilance Officer, GRSE, Shri Mihir Kumbhakar, ITS, Senior Officers of GRSE along with a dedicated team of employees. The tree plantation drive aimed to enhance the green cover, improve air quality, and contribute to the overall ecological balance.

In addition to the tree plantation drive, GRSE organized a Bi-Cycle Rally, showcasing GRSE's commitment to sustainable transportation and promoted the use of eco-friendly modes of commuting. GRSE has already implemented e-cars for transportation of senior executives of the company. Continuing the World Environment Day festivities, GRSE encouraged employees to express their creativity and highlight the significance of sustainable practices through a poster competition centered around the theme of environmental preservation.

GRSE's celebration of World Environment Day underscores its commitment to corporate social responsibility and sustainability. The company acknowledges the vital role it plays in environmental preservation within the maritime industry and continually strives to integrate eco-friendly practices across its operations.

PRESS RELEASE

GRSE celebrates its 10th Phase of India@75 through webinars engaging stakeholders

Kolkata, 27 May 2023: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India, commemorates the successful completion of India@75-Phase X. As part of Phase X of the India@75 Week - Azadi ka Amrit Mahotsav Celebration, GRSE organized a series of enlightening webinars from 19 May 23 to 25 May 23.

The India@75-Phase X celebration commenced with an engaging webinar and a special interaction session involving IDM (Phase-2) registered vendors and a Vendor Development Program in collaboration with NSSHO/NSIC, specifically tailored for MSMEs of SC/ST and service category entrepreneurs on 19th May 2023. Following this, a series of informative webinars were organized, including sessions on "IDM (Phase 2) Portal and Special Vendor Development Program for MSME-Women and Service Category Entrepreneurs" in partnership with MSME-DI, "GRSE Payment System for MSME Vendors" in association with TReDS, "Supply Chain aspects with regards to GRSE," "Making India a Global Player in Shipbuilding - a GoI Initiative," "Online Inspection Report Monitoring System - QA," and "IDM (Phase 2) portal and Special Vendor Development Program for MSMEs under the category Women, SC/ST Entrepreneurs" between 19 May 23 to 25 May 23.

In the past, GRSE successfully organised nine phases of the India@75 Week- Azadi ka Amrit Mahotsav Celebration. These were held in Apr 21, Jul 21, Oct 21, Dec 21, Mar 22, Jun 22, Sep 22, Dec 22 and Feb 23. GRSE will conclude the final phase of India@75 coinciding with the joyous celebration of Independence Day and taking forward the Indigenisation initiative.

PRESS RELEASE

GRSE Bags 91st SKOCH Awards for 'Unique Transfer & Loading of Fully Built 250T Goliath Crane'

Kolkata, 27 May 2023: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company, won the prestigious 91 st SKOCH Awards for 'Unique Transfer & Loading of Fully Built 250T Goliath Crane'. Two projects of GRSE, including the 'Unique Transfer & Loading of Fully Built 250T Goliath Crane' and 'Ventilation Noise Reduction Measures Towards Resolution of High Bridge Wing Noise Onboard IN LCU ships', made it to the Semi- finals of the SKOCH Awards, with the former winning the award. Cdr Bhaskar Sengupta, CGM (Main Works) received the Award on behalf of GRSE at an award function held at Dr Ambedkar International Centre (DAIC), 15 Janpath, New Delhi on 27 May 23.

PRESS RELEASE

"Warships to Weapons - Heading the Atmanirbhar Efforts" - GRSE signs Contract for Ten 30mm Naval Surface Guns

Kolkata, 25 May 2023: Garden Reach Shipbuilders and Engineers (GRSE) Ltd., a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India has been awarded the contract for supply of Ten 30 mm Naval Surface Guns by the Ministry of Defence (MoD)/Indian Navy. The contract worth Rs. 248.5 Crore for supply of these guns to the Indian Navy was signed by Cmde Vivek Dahiya Cmde (SR), Indian Navy and Cdr Shantanu Bose (IN, Retd), Director Shipbuilding GRSE on 24 May 23. This order marks a new chapter in the country's efforts for manufacturing critical weapons indigenously and a hallmark of GRSE's commitment to supporting the Indian Maritime forces.

The MoD has designated GRSE as the nodal agency for the indigenisation of Close in Weapons Systems (CIWS) guns for Naval applications in Mar 2022. Under this mandate, GRSE has achieved this breakthrough in indigenizing the 30 mm Naval Surface Gun (NSG) a vital equipment to be indigenized under the CIWS. The 30 mm NSG is a key weapon system fitted on small Warships and Auxiliary vessels of the Indian Navy and Indian Coast Guard.

GRSE remains committed to supporting the GoI's modernization efforts and 'Make in India' initiative. The shipyard continues to pursue indigenisation opportunities and leverage its extensive capabilities in shipbuilding, engineering and defence technology to support the nation's maritime and land forces.

PRESS RELEASE

Performance Review of Q4 & FY23

Riding on a strong order book, GRSE records best ever financial performance for FY 22-23

Kolkata, 24 May 2023: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the last quarter and full year ended March 31st, 2023.

Q4 FY23 Compared with Q4 FY22:

• Revenue from operation is Rs. 601.17 Crore in Q4 FY23 as against Rs. 543.18 Crore of previous year registering a growth of 10.68%.
• The Company's EBITDA stood at Rs. 90.36 Crore in Q4 FY23 against Rs. 73.70 Crore of previous year registering a growth of 22.62%.
• Profit Before Tax (PBT) stood at Rs. 76.30 Crore in Q4 FY23 against Rs. 63.19 Crore of previous year registering a growth of 20.74%.
• Profit After Tax (PAT) stood at Rs. 55.30 Crore in Q4 FY23 against Rs. 47.20 Crore of previous year registering a growth of 17.16%.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, "Our financial performance during FY 22-23, the best ever in the company's history is credit to the resilience & resolve of Team GRSE, as the company continues to grow on financials & physical performance. Delivery of an export vessel to the Cooperative Republic of Guyana & a Fast Patrol Vessel to the Indian Coast Guard, both ahead of schedule, bear testimony to the operational efficiencies of the company. A strong order book coupled with a clear execution strategy promises continued growth in the coming years."

PRESS RELEASE

GRSE's 'GAINS' Startup Challenge, a win-win partnership, says Shri Rajeev Chandrasekhar, Hon'ble Minister of State for Electronics and IT & Skill Development and Entrepreneurship

Kolkata, 22 May 2023: Garden Reach Shipbuilders and Engineers (GRSE) Ltd, one of India's premier defence shipyards and a Category 1 Mini Ratna Company, has embarked on a mission to identify and encourage the development of innovative solutions towards technological advances in shipbuilding by Startups. As part of this drive, the Company launched GRSE Accelerated Innovation Nurturing Scheme - 2023 or 'GAINS 2023' on May 22, 2023, to leverage the eco-system that addresses present and emerging challenges in the ship design and construction industry.

'GAINS 2023' was launched by the youngest officer of GRSE, Shri G Surya Prakash, Assistant Manager (Finance), in the august presence of Shri Rajeev Chandrasekhar, Hon'ble Minister of State for Electronics and IT & Skill Development and Entrepreneurship. With this initiative, GRSE embraces the energy and ideas of today's talented youngsters to revolutionize the industry and reaffirms its belief that the young minds of today are the driving force behind the future of both the company and the industry at large. This strategic move signifies GRSE's unwavering commitment to fostering innovation and embracing fresh perspectives.

GRSE has been a pioneering shipyard since becoming a DPSU way back in 1960 by delivering the first indigenous warship INS Ajay to the Indian Navy in 1961. The shipyard has been adopting technological advances for quite some time now to emerge as a leading name in shipbuilding in the global market. Open innovation is a well-established and effective way to gather ideas from outside the organisation to create better solutions in a relatively short time. In an effort to boost innovation in the shipyard and propel the yard towards becoming a future-ready shipyard, a scheme for encouraging innovators to be a part of this journey through an "Open Innovation Challenge" is considered the need of the hour. 'GAINS 2023' is designed to provide new and emergent innovators, engineers and designers, the opportunity to understand the shipyard's core business interests and its established or bespoke practices and thereby motivating them to think and innovate in this niche technology area. The Shipyard has created a separate department to pursue the GAINS initiative and seek out and support innovators in Indian line with the thrust of the Government of India.

Speaking on the occasion through virtual mode, the Chief Guest Hon'ble Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT, Shri Rajeev Chandrasekhar, said, "I am happy that GRSE has decided to partner with Startups & Innovators from across the country as part of the GAINS Challenge for expanding its own research ecosystem. It is a win-win partnership that will shape the future of technology and of innovation in the ship design and construction Industry."

Appreciating efforts of Public Sector Undertakings, the Hon'ble minister said that Technology and innovation cannot be developed by one organization alone and partnerships between the platforms' architects, the platform owners and ecosystem of innovators-- is the way of the future, he stressed.

"I am glad that PSUs like GRSE are now playing an active role not just as enablers but also as partners of young Indians and Startups all over the country," he said.

The Hon'ble Minister also said that the complex platforms that have been delivered by shipyards like GRSE bear testimony to the capability of India not just in engineering but also in microelectronics, systems and sensors that go into making the battleships and naval platforms of today. Cmde PR Hari IN (Retd), Chairman and Managing Director, GRSE, mentioned that this is a first of its kind initiative by any Public Sector Undertaking to launch a startup challenge for tapping inherent strength & capabilities of the Indian startup eco system to come up with technologically innovative solutions. Stating that the Indian startup eco system is perhaps the best in the world, Cmde Hari was confident of participation from creative sharp & innovative young men & women of India to come up with out of the box implementable solutions to make the venture a great success.

The 'GAINS 2023' Challenge is a two-stage process to help generate a large number of ideas from which a few promising ones may be selected and nurtured. In the first stage, participating entities/ firms/ individuals would only be required to submit short illustrated and written submissions with sufficient detail to clarify a required degree of understanding of the chosen problem / solution. This should also be accompanied by a rough order of cost and justification of professional qualification/ competence required to successfully implement the proposal.

Artificial Intelligence, Renewable/Green Energy and Energy Efficiency as well as Efficiency Enhancement are focus areas for GRSE and are the thematic areas of 'GAINS 2023' Challenge. All passionate innovators, entrepreneurs and visionaries can visit the GRSE website www.grse.in/gains for more information about the 'GAINS 2023' Challenge.

PRESS RELEASE

GRSE, a proud partner of BRO, secures deal for 30 more Double Lane Bridges

Kolkata, 08 May 2023: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), one of the leading Public Sector Undertaking and Mini-Ratna Category 1 Shipyard, achieved yet another momentous milestone by securing a groundbreaking deal with the Border Roads Organisation (BRO) for the fabrication, supply, erection and launching of additional 30 nos. Double-Lane Class 70 modular steel bridges in border areas.

Garden Reach Shipbuilders and Engineers Ltd., (GRSE), one of the leading Public Sector Undertaking and Mini-Ratna Category 1 Shipyard, achieved yet another momentous milestone by securing a groundbreaking deal with the Border Roads Organisation (BRO) for the fabrication, supply, erection and launching of additional 30 nos. Double-Lane Class 70 modular steel bridges in border areas.

This landmark agreement entails the construction and delivery of 30 cutting-edge Class 70R Double-Laned Bridges, designed exclusively by GRSE, to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment.

Unparalleled in its innovation, the double-lane Steel Bridge developed by GRSE stands as the sole indigenous solution of its kind, in line with India's Aatmanirbhar Bharat Abhiyan. So far, 12 Bridges have been supplied by GRSE under the first MoU signed on 15 Mar 2022, out of which 04 Bridges have already been launched and launching works on 02-03 bridges are in progress. The first bridge of this kind, was constructed at Flaghill, Dokalam, Sikkim at an altitude of 11,000 feet under Project Swastik of the BRO, inaugurated by Hon'ble Defence Minister Shri Rajnath Singh on 28 December 2021.

The bridges have a carriageway width of 7.5 meters, permitting plying of two-way traffic in compliance with specifications laid down by the National Highways Authority of India (NHAI). High tensile steel of Grade E-410 ensures high strength, long life and low temperature applications. The galvanized surface finish ensures easier maintenance and longer service life. Load Class IRC 70R permits movement of both Wheeled/ Tracked Vehicles of up to 100 / 70 MT. The modular concept ensures easier transportation of bridge components to remote areas and faster erection of bridges in a short span of 30 to 45 days.

In August 2022, GRSE attained an exclusive distinction by becoming the sole Indian organization qualified for the esteemed Green Channel Certification for Portable Steel Bridges (Bailey Type) from the Indian Army.

Remarkably, GRSE's Portable Steel Bridge Division has pushed the boundaries of innovation through intensive research and development efforts, resulting in the creation of superior versions of portable bridge designs. Over 5,500 portable steel bridges have already been supplied by GRSE to esteemed entities such as the Indian Army, Border Roads Organisation, State Public Works Departments, and the Central Government. These versatile bridges, originally intended for disaster management, have also garnered international recognition, being exported to friendly nations including Bhutan, Nepal, Myanmar, and Sri Lanka.

PRESS RELEASE

GRSE Bags 91st SKOCH Awards for 'Unique Transfer & Loading of Fully Built 250T Goliath Crane'

Kolkata, 05 May 2023: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company, won the prestigious 91st SKOCH Awards for 'Unique Transfer & Loading of Fully Built 250T Goliath Crane'. Two projects of GRSE, including the 'Unique Transfer & Loading of Fully Built 250T Goliath Crane' and 'Ventilation Noise Reduction Measures Towards Resolution of High Bridge Wing Noise Onboard IN LCU ships',made to the Semi-finals of SKOCH Awards, with the former winning the award at a virtual award ceremony held in New Delhi on 04 May 23.

GRSE's project stood out amongst numerous entries at the SKOCH Awards, which recognizes excellence in socio-economic development. The Goliath crane with a capacity of 250 tonnes, was manufactured in South Korea and transported by sea to GRSE in fully assembled condition. Overcoming technical challenges and adverse weather conditions, the crane was commissioned on 22 Jun 21.

GRSE has delivered over 100 warships to the Indian Navy, Coast Guard and other friendly foreign countries. With this latest recognition, GRSE affirms its position as a leader in the shipbuilding industry, committed to leveraging innovation and technology to drive growth & competitiveness.

PRESS RELEASE

GRSE renews India's 185-year-old tie with Guyana through Delivery & Commissioning of MV 'Ma Lisha'

Kolkata, 24 Apr 2023: Adding yet another feather to its illustrious cap, GRSE built Ocean-going Passenger-cum-Cargo Ferry MV 'Ma Lisha' to the Cooperative Republic of Guyana was delivered and commissioned on 23 Apr 23 at Georgetown, Guyana. The presence of the President, Cooperative Republic of Guyana, HE Dr Mohammad Irfan Ali, Prime Minister, Cooperative Republic of Guyana, Brigadier (Retd.) Mark Anthony Phillips, Indian External Affairs Minister, Shri S Jaishankar, Minister of Public Works, Government of the Cooperative Republic of Guyana, Bishop Juan Edghill, High Commissioner of India to Guyana, Dr K.J. Srinivasa, and Chairman and Managing Director, GRSE, Commodore P.R. Hari IN (Retd), not only added grandeur to this event but raised the bar by several notches. The historic event also witnessed the presence of Cabinet Members, Members from Diplomatic Community along with important dignitaries from Govt of India and Government of Cooperative Republic of Guyana. GRSE has become the only shipbuilder in the country to have designed and built an Ocean-going Passenger-cum-Cargo Ferry and delivered it to a South American country that is at a sailing distance of over 11,500 nautical miles from Kolkata.

In his address, HE Dr. Mohammad Irfan Ali, President, Cooperative Republic of Guyana highlighted that, "Relationship between Guyana & India is important and critical for both the countries and MV MA Lisha has made the journey that is filled with friendship and one that symbolizes the relationship between India and Guyana cementing the values of trust, honour, respect, democracy and one in which we see the development of people of both the countries as a priority."

He mentioned that GRSE being the lowest bidder had built the ship with every single feature the highest bidder was offering. The President also acknowledged GRSE's contribution in training their local technicians on the maintenance and operations of this vessel and also providing medium- and long-term support on the up-keep and operation of the vessel. The President also reemphasized the importance of the name of the vessel, 'MA Lisha' which demonstrates the core value of friendship between India and Guyana.

In his speech during the commissioning ceremony of the vessel on April 23, 2023, Indian External Affairs Minister, Shri S Jaishankar lauded GRSE's efforts. "Despite the challenges of the COVID pandemic which followed soon after the agreement for the supply of the ferry was signed. I think its worth noting that the ferry was delivered on time and for that I congratulate GRSE. On the 12th of January MV MA Lisha was formally flagged off from Kolkata by Cmde Hari and sailed to Chennai and was hoisted on a Semi-submersible vessel MV Sunrise to be transported to Guyana. This is a unique feat of loading a fully built ship onto a transport vessel for shipping to Latin America and for us in India is in itself a new experience. Now its important that we look at this ferry and actually consider the larger context which is that of the of the long-standing development partnership between India and Guyana. Our cooperation is human centric. It reflects the priorities of the people and the Govt. Of Guyana", Dr. Jaishankar stated.

Dr. Jaishankar also mentioned that so far, 640 Guyanese nationals have benefited from India's technical and economic cooperation programs which are designed to enhance skills and capacity building. He further stated, "I am confident that our ties will continue to grow further. I am happy to note that we are working on variety of areas which directly benefit the lives of the people and a good example is this ferry. This is very much in line with the vision of Prime Minister of India, Shri Narendra Modi when it comes to international cooperation. I wish that India Guyana partnership will continue to move robustly on its positive trajectory and that the two countries are working together in many ways, is symbolic of strategic cooperation."

Speaking on this historic occasion, CMD GRSE, Commodore P.R. Hari, IN (Retd) mentioned, "For us every shipbuilding project is special, but 'MA Lisha' was especially special, for it was from Kolkata, our city where we are based, 185 years back, the two ships SS Whitby & SS Hesperus set sail with Indian workers for Guyana. Over the last 185 years, nearly two centuries, this relationship has further strengthened and with the arrival of MA Lisha here, she will cement this relationship even more. GRSE has got the capability to build marine platforms ranging from 5 ton boats to 24600 ton fleet tankers, from warships to commercial vessels. We are fully seized of the requirements of Guyana and I am very confident that with our capability, we will be able to meet all your needs and expectations in future."

Cmde Hari expressed his deep appreciation to the Transport and Harbors Department, the Maritime Administration Department and the Public Works Ministry of Govt. Of Guyana, the Classification Society, the American Bureau of Shipping and High Commissioner of India to Guyana, Dr K.J. Srinivasa, who personally monitored and steered this project from conception to culmination.

Contract for this Ferry was signed between the Transport & Harbour Department (T&HD), Government of the Cooperative Republic of Guyana, and Garden Reach Shipbuilders and Engineers (GRSE) Ltd on January 13, 2021. GRSE was to design and build the vessel for US $12.7 million. On June 15, 2022, during her launch by Mrs Joan Edghill, wife of Bishop Juan Edghill, Minister of Public Works, Government of the Cooperative Republic of Guyana, the Ferry was christened MV 'Ma Lisha' meaning Good Luck. On January 12, 2023, after completion of work and the certification process, MV Ma Lisha was formally flagged-off from Kolkata by Commodore PR Hari, C&MD GRSE.

The Ferry is 70 metres long. It is propelled by two diesel engines and can attain a top speed of 15 knots. It is to be the largest and fastest among the ferries that now operate in the riverine and coastal parts of the Northwest District of Guyana. With a displacement of 1,700 Tons, the vessel can carry 294 passengers (including a 14-member crew), 14 cars, two trucks, 14 containers and other assorted cargo.

GRSE is presently building 22 ships of which 15 warships of various classes are for the Indian Navy. These ships are in various stages of completion. They include three Missile Frigates under the Navy's Project 17A, eight Anti-Submarine Warfare Shallow Water Craft and four Survey Vessels (Large). On 31 Mar 23, the Ministry of Defence has also placed an order for four Next Generation Offshore Patrol Vessels with GRSE. GRSE is also building six patrol boats for the Government of Bangladesh and the prototype "zero-emission" green ferry for the Transport department of the Government of West Bengal.

PRESS RELEASE

GRSE Celebrates 64th Raising Day

Kolkata, 19 Apr 2023: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and India's leading warship building company, celebrated its 64th Raising Day on April 19, 2023, with grandeur and enthusiasm.

The Raising Day event witnessed wholehearted and enthusiastic participation from all sections of GRSE employees in the presence of Cmde P.R. Hari, IN (Retd), Chairman and Managing Director, Shri R.K. Dash, Director (Finance), Cdr Shantanu Bose, IN (Retd.), Director (Shipbuilding), Shri Mihir Kumbhakar, CVO, and senior officials of GRSE. On the occasion, Cmde PR Hari released 'GRSE Varta 2022', an annual In-house Journal of the Shipyard. The award ceremony commenced with distribution of merit awards to Employees' children and Employees were awarded for their exemplary performance under various categories. During the event, various cultural activities were also performed by employees and their family members.

PRESS RELEASE

GRSE Pays Interim Dividend of Rs 63 Crores for FY 2022-23: Hands Over Dividend Cheque to Government of India

New Delhi, 10 Apr 2023: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, has paid an interim dividend of Rs. 63 Crores for FY 2022-23 to its shareholders. The Interim Dividend Cheque amounting to Rs. 46.93 Crore as the government's share was handed over to Hon'ble Raksha Mantri Shri Rajnath Singh, by Cmde P R Hari, IN (Retd), Chairman & Managing Director of GRSE Ltd. Kolkata, today at New Delhi in the presence of Shri Giridhar Aramane, Defence Secretary, Shri T Natarajan, Additional Secretary (Defence Production), Shri R K Dash, Director (Finance), GRSE and senior officials from Ministry of Defence & GRSE.

GRSE has declared an interim dividend of Rs. 5.50 per equity share of Rs. 10 for FY 22-23 against Rs. 4.95 in FY 21-22. GRSE has been consistent in paying dividend to the Shareholders and has done so every year for the last 29 years. The company has a strong order book position of Rs 22,242.42 Crs. as on 31 Dec 22 and has recently concluded another contract of over Rs 3500 Cr with the Indian Navy for the construction of 04 Next Generation Offshore Patrol Vessels.

PRESS RELEASE

MV Ma Lisha berths at Georgetown with lots of good wishes from India

Kolkata, 07 Apr 2023: For the first time in Indian maritime history, a ship designed and built in India by Garden Reach Shipbuilders and Engineers (GRSE) Ltd. Kolkata, reached the Guyanese port of Georgetown on 06 Apr 23, completing a journey of over 11500 nautical miles. MV Ma Lisha is a modern Ocean-going Passenger-cum-Cargo Ferry that will operate from Georgetown to the North West District of the Caribbean nation. The 70-metre-long Ferry, built in accordance with international standards, is capable of a speed of 15 knots and will cut the travel time between Georgetown and the North West District by nearly half. It is designed to carry a load of 250 tonnes that will include 294 passengers, 14 cars, two fully-loaded trucks and 10 containers. It also has a refrigerated area to carry perishables.

The MV Ma Lisha was built under a US $12.77 million Grant/Line of Credit from the Government of India to the Cooperative Republic of Guyana. After signing the contract in 2021, GRSE completed the design and construction of the vessel followed by 'Technical Acceptance' within 23 months despite the Covid-19 pandemic. On January 12, 2023, Cmde P R Hari, Chairman and Managing Director, GRSE, flagged off MV 'Ma Lisha' from GRSE, Kolkata.

In a first of its kind 'Float on-Float off' operation at Chennai Port, MV 'Ma Lisha' was loaded on to the semi-submersible vessel MV 'Sun Rise' on 23 Jan 23. MV 'Sun Rise' made its transatlantic voyage to reach the 'Chaguaramas' port in Trinidad on 02 Apr 23. The MV Ma Lisha was unloaded from the ship a day later and set sail for Georgetown, Guyana. On this journey, along with three crew members from GRSE, the ship had a 14-member Guyanese crew on board led by veteran mariner Captain Courtney McDonald, director of maritime safety at the Maritime Administration Department of Cooperative Republic of Guyana.

MV 'Ma Lisha' will be formally delivered to Guyanese authorities at a befitting ceremony to be held at Georgetown later this month adding yet another feather to the cap of GRSE, one of India's leading Shipbuilders. Senior officials from the Government of India and GRSE are expected to be present during the formal handing-over ceremony. This will mark the start of a new era of friendship between India and the Caribbean nation, nearly 40% of whose population is of Indian origin - part of the great Indian Diaspora spread across the world. Coincidentally, the origin of Indians in Guyana can be traced back to the city of Kolkata, India way back in 1838.