GRSE to sign Long-Term Lease Agreement with Syama Prasad Mookerjee Port for Timber Pond, Howrah
Defence PSU, Garden Reach Shipbuilders and Engineers Ltd is all set to sign a Long Term lease agreement with Syama Prasad Mookerjee Port, Kolkata to strengthen its infrastructure demand.
Defence PSU, Garden Reach Shipbuilders and Engineers Ltd is all set to sign a Long Term lease agreement with Syama Prasad Mookerjee Port, Kolkata to strengthen its infrastructure demand.
As per the filing, we wish to inform you that the Board of Directors of the Company at its Meeting held on Friday, 25 Apr 2025 was apprised that GRSE will enter into a thirty-year lease agreement (non-renewable) with Syama Prasad Mookerjee Port, Kolkata (SMPK) for a land parcel at Timber Pond, Howrah.
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This step aligns with GRSE's long-term vision to strengthen its infrastructure in line with the growing domestic and export demand. The proposed leased land, with its valuable waterfront access, will support GRSE's initiatives in shipbuilding, ship repair and other engineering activities.
The revenue generation from this initiative is not anticipated at this stage.
Shares of GRSE closed at Rs 1,616.10 down by 6.55 percent.
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