GRSE signs multiple agreements in Norway during official delegation visit

New Delhi: State-owned Garden Reach Shipbuilders and Engineers Ltd (GRSE) has disclosed intimation regarding the signing of Memorandum of Intent (MoI) and Memorandum of Understandings (MoUs) in Norway.

The company has stated in an exchange filing that during an official delegation visit to Norway, the Company has entered into the following Memorandum of Intent (MoI) and Memorandum of Understandings (MoUs):

On 04 June 2025, Garden Reach Shipbuilders & Engineers Limited (GRSE) signed an MoI with M/s Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG, Germany, for the construction of four (04) follow-on 7,500 DWT Multi-Purpose Vessels. These vessels will be built as a continuation of the eight (08) vessels currently under construction at GRSE’s Kolkata shipyard.

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The follow-on vessels will feature hybrid propulsion systems and comply with the latest cybersecurity standards. The firm contract for these vessels is expected to be finalized by 31 August 2025.

In pursuance of venturing into construction of Off-shore platforms and vessels, GRSE signed a Memorandum of Understanding (MoU) with M/S Aries marine, a Dubai based, established and independent engineering and design firm for offshore Platform and vessel design.

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This is to extend worldwide reach of GRSE in the offshore market. This MOU aims to facilitate collaboration on identifying and developing offshore orders for platforms designed by ARIES and built by GRSE.

Further, the company also signed MoU with a Global Engine Manufacturer on the same day.

Shares of GRSE are trading higher by 3.83% at Rs 3,483.20 at the BSE. In the past five days the shares has been surged by 15.65%.

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