Garden Reach Shipbuilders & Engineers (GRSE), a Kolkata-based defence firm is betting big on expanding its offshore footprint. From signing a pact with Dubai based firm for new offshore projects to inking partnership with global engine manufacturer, the company has a strong pipeline of new orders.
Expanding into offshore platforms with Dubai-based Aries Marine
As part of its efforts to enter the offshore construction sector, GRSE also signed a Memorandum of Understanding (MoU) with Aries Marine, a Dubai-based engineering and design firm.
The MoU aims to identify new offshore projects using Aries’ designs, which will be executed by GRSE. This partnership is expected to enhance GRSE’s global presence in the offshore market.
GRSE signs pact with German firm for 4 ships
The company has also signed a Memorandum of Intent (MoI) with the German company Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG for the construction of four new 7,500 Deadweight Tonnage (DWT) multi-purpose vessels.
The agreements were signed on June 4, 2025, during an official delegation visit to Norway. These ships will follow eight similar vessels that are already under construction at GRSE’s Kolkata shipyard. The new vessels will be equipped with hybrid propulsion systems and will comply with the latest cybersecurity standards. The final contract for these four ships is expected to be signed by August 31, 2025.
GRSE signs MoU with global engine manufacturer
On the same day, GRSE signed another MoU with a global engine manufacturer. Although details of the agreement have not yet been disclosed, the collaboration is expected to bolster GRSE’s capabilities in engine integration for future vessels.
GRSE had earlier signed an MoU with Norway’s Kongsberg for the construction of India’s first-ever Polar Research Vessel (PRV).
GRSE share price zooms to new 52-week highs
Following the announcement of the MoUs during the Norway visit, GRSE’s stock has been on a rallying spree. The share price of Garden Reach Shipbuilders surged a whopping 80% in the last one month. The stock recently hit a fresh 52-week high.