Kolkota: Kolkota-based Garden Reach Shipbuilders & Engineers Ltd (GRSE), a defence public sector unit PSU, has initiated an Rs530 crore modernisation programme in its Main Unit, which will allow it to construct larger warships. The modernisation programme is expected to be complete by July 2011.
With newly installed infrastructure facilities the shipyard will be able to undertake construction of large ships, such as LPDs and frigates, with modular construction that will allow deliveries in a shorter time frame.
Post- modernisation, the GRSE will have a large dry dock as well as a large inclined berth - both 180 meters long. These will be supported by a modern integrated paint cell, modular hall, allied workshops and a 250 ton goliath crane.
GRSE's Raja Bagan Dockyard at Kolkata, which the company acquired from the CIWTC in July 2006, is also undergoing rapid modernisation. The Raja Bagan Dockyard is currently engaged in the construction of Water Jet Fast Attack Crafts. GRSE will move to construct more sophisticated smaller vessels.
Meanwhile, for the third year in succession, GRSE has paid a dividend of Rs24.77 crore (20 % of the share capital) to the Union Government for the financial year 2008-09. The amount was handed over to the defence minister, AK Antony in New Delhi by Rear Admiral KC Sekhar (retd), chairman and managing director, GRSE.
The company expects to achieve a value of production of Rs850 crore in financial year 2009-10 as against Rs673 crore achieved in financial year 2008-09.