Defence public sector undertaking Garden Reach Shipbuilders & Engineers (GRSE), which is in the process of raising nearly Rs 340 crore through the Initial Public Offering (IPO), will deliver 10 warships to the Indian Navy and Indian Coast Guard in the next 18 months.
The first of the three ‘Project 17 Alpha Frigates’ will be delivered to the Indian Navy in the middle of 2023, said GRSE chairman and managing director Rear Admiral (retd) VK Saxena.
In a different context, GRSE will build two portable bridges as an alternative of Majherhat Bridge, a part of which recently collpased in Taratola, taking two lives. It has also been asked by the state government to supply a bridge replacing the collpased one near Siliguri in North Bengal, he said on Wednesday.
Speaking to newspersons, GRSE chairman and managing director said that the two, being Bailey Bridges, would come up before Durga Puja at a cost of nearly Rs 2 crore over Chetla Boat Canal and Humayun Kabir Sarani.
With regard to the IPO, GRSE CMD said, “The government is diluting its 25 cent stake. We expect around Rs 330-340 crore to come from the IPO. The proceeds will go to the government only.”
Responding to queries on the two new bridges, he said, “We have been in dialogue with the state government. It has been going on for some time. We have already given proposal to them telling them we are standby with certain things ready. Portable bridges are nothing but manufacturing of different components and assembling them at the desired locations at a very fast speed. We have things ready for other customers.”
“On Tuesday it was confirmed to us that the state government was looking for two 80-ft-long portable bridges of 97 tonnes of load carrying capacity each. Now some civil work has been going on there. These two bridges can be erected in next 10-12 days and there will be no hindrance at all.”
According to him, the GRSE which has 60 per cent market share in portable bridges by capacity has also been approached by the Maharashtra government for building a bridge among other states.
By: My Digital FC
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