Bangladesh calls off GRSE order worth approx 21 million USD
The Government of the People’s Republic of Bangladesh has cancelled the order secured by state-owned Shipbuilder Garden Reach Shipbuilders and Engineers Ltd.
_20250522_111937_0000.png)
Kolkata, 22 May 2025: The Government of the People’s Republic of Bangladesh has cancelled the order secured by state-owned Shipbuilder Garden Reach Shipbuilders and Engineers Ltd for the Construction of an Advanced Ocean-Going Tug valued at approximately 21 million USD.
The Defence PSU stock has been informed through the exchange filing. The reason for the cancellation of the order is not yet disclosed.
On July 1, 2024, the company signed an agreement with the Directorate General of Defence Purchase, Ministry of Defence, Government of the People’s Republic of Bangladesh, to construct an advanced Ocean-Going Tug.
The tug primary role was expected to strengthen the defence structure of Naval Armed Force of Bangladesh.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : REC Limited Moves Forward with New Subsidiary
Shares of GRSE are trading higher by 4.34% at Rs 2,597.00 at BSE.
Read Also : Gujarat State Fertilizers & Chemicals updates on Power Supply from GIPCL