18 hrs ago
GRSE Board Approves ₹2,896 Crore Raichak Shipyard Expansion Plan
GRSE plans to build a new shipyard at Raichak in West Bengal.
Its board approved ₹2,896 crore for the project.
The yard is meant to help build more naval and commercial ships.
GRSE says the wider plan involves three facilities in West Bengal.
The facilities are intended to support large warships, commercial vessels, repairs and smaller boats.
The company has not yet said when the Raichak yard will be completed or how it will be financed.
One report said the three facilities announced earlier involved ₹2,670 crore altogether, which is not reconciled with the separate ₹2,896 crore Raichak approval.
GRSE also reported higher profit and revenue in the first quarter of FY27.
Garden Reach Shipbuilders & Engineers approved a ₹2,896 crore budget for a greenfield shipyard at Raichak, West Bengal.
The facility is intended to increase GRSE’s capacity for naval and commercial shipbuilding.
GRSE said its broader West Bengal expansion programme includes three facilities, with proposed capabilities for warships up to 200 metres and commercial vessels up to 60,000 DWT.
The company has not disclosed the Raichak project’s implementation schedule, funding mix, annual capacity or commissioning date.
GRSE reported first-quarter FY27 net profit of nearly ₹173 crore and revenue of ₹1,815 crore, while its shares closed at ₹2,372.20.
- Who
- Garden Reach Shipbuilders & Engineers Limited and its board.
- What
- Approval of a ₹2,896 crore capital budget for a greenfield shipyard.
- Where
- Raichak, West Bengal.
- When
- The approval was made at GRSE’s 423rd board meeting on September 21.
- Why
- To expand shipbuilding capacity for naval and commercial vessels.
Key facts
- Project
- Greenfield shipyard at Raichak, West Bengal
- Approved outlay
- ₹2,896 crore
- Planned capabilities
- Warships up to 200 metres and commercial vessels up to 60,000 DWT, according to an earlier GRSE disclosure
- Broader programme
- Three West Bengal facilities, including the proposed Raichak yard
- Other facilities
- ₹100 crore for the Timber pond facility at Shalimar, Howrah, and ₹70 crore for the Damodar facility at Kidderpore
- Q1 FY27 performance
- Net profit of nearly ₹173 crore and revenue from operations of ₹1,815 crore
- Undisclosed details
- Raichak implementation schedule, funding mix, annual capacity and commissioning date
- Reported investment discrepancy
- An earlier disclosure was reported as putting the three-facility programme at ₹2,670 crore, while the Raichak project alone was approved at ₹2,896 crore
Sources
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