Garden Reach Shipbuilders & Engineers Ltd has secured a Rs 1,032 crore contract from Oil and Natural Gas Corporation Limited for the design, construction and delivery of four Platform Supply Vessels, marking a significant diversification of GRSE’s shipbuilding portfolio into the commercial and offshore vessel segment.
When was the order awarded and what does it involve?
GRSE received the Notification of Award from ONGC on July 30, 2026. The order, valued at Rs 1,032.07 crore, is scheduled to be executed over 48 months. The vessels will be designed and built in accordance with the rules of the Indian Register of Shipping and will incorporate advanced technologies to support offshore exploration and production activities.
What are the specifications of the new vessels?
The four PSVs will have an overall length of about 80 metres, a beam of 20 metres, a deadweight capacity of 3,000 tonnes, an endurance of 45 plus 3 days, and a clear deck area of approximately 650 square metres, enabling them to undertake a wide range of offshore logistics and support missions. A key highlight of the vessels will be their advanced hybrid propulsion architecture, featuring electrically driven azimuth thrusters and a Lithium-Ion Battery Energy Storage System with peak load management capability.
Why is this order significant for India’s shipbuilding sector?
The order marks GRSE’s first domestic commercial shipbuilding contract under the Centre’s aggregate demand plan, part of the Ministry of Ports, Shipping and Waterways‘ Rs 69,725 crore maritime package launched in September 2025. Under the Rs 24,736 crore Shipbuilding Financial Assistance Scheme within this package, GRSE is eligible for 15 to 25 percent financial assistance per vessel from the Centre. The order supports India’s ambitions to become one of the world’s top 10 shipbuilding nations by 2030 and one of the top five by 2047, in line with the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047.
What does this mean for GRSE’s broader shipbuilding capacity and portfolio?
With more than six decades of experience, GRSE has built and delivered over 800 platforms, including 118 warships for the Indian Navy, Indian Coast Guard and foreign countries. The Kolkata-based Navratna Defence PSU is currently expanding its construction capacity from 28 to 32 vessels at a time, with upgrades expected to be completed by December 2026. GRSE’s order book stood at Rs 15,324 crore at the end of FY26, and the company recently reported a 38.5 percent year-on-year rise in Q1 FY27 revenue to Rs 1,814.62 crore.
