GRSE Awaits CCS Approval for Rs 40,000 Crore Corvette Project for Indian Navy
Garden Reach Shipbuilders & Engineers (GRSE) is positioned to secure a major contract for five Next Generation Corvettes, pending a final approval from the Cabinet Committee on Security (CCS). This project is valued at approximately Rs 40,000 crore and is significant for advancing India's naval capabilities.
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Garden Reach Shipbuilders & Engineers (GRSE) is anticipating the final approval from the Cabinet Committee on Security (CCS) for a project worth Rs 40,000 crore to construct eight Next Generation Corvettes for the Indian Navy. GRSE is the lowest bidder and is expected to receive orders for five of the warships, with Goa Shipyard Limited set to build the remaining three.
The corvettes will have a displacement of around 3,500 tonnes and a top speed of nearly 32 knots, featuring advanced combat systems such as BrahMos missiles and AESA radar. INS Sanshodhak, a recent delivery by GRSE, enhances naval hydrographic capabilities.
The completion of the Sandhayak-class vessels bolsters India's maritime strategy and scientific research. The approval from CCS is a critical step, with potential implications for GRSE’s revenue and stock performance in the defense sector.
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