The defence PSU has delivered two anti-submarine warfare corvettes INS ‘Kamorta’ and INS ‘Kadmatt’ to the Indian Navy with 90 percent indigenous content
GN Bureau | November 16, 2016
The Garden Reach Shipbuilders & Engineers (GRSE) has so far delivered 98 warships to the armed forces and with two more ships almost ready for delivery, the shipyard is now poised to become the first in the country to build 100 warships.
GRSE has also delivered first two anti-submarine warfare corvettes INS ‘Kamorta’ and INS ‘Kadmatt’ to the Indian Navy with 90 percent indigenous content. It has also done the nation proud by building the first-ever export warship CGS ‘Barracuda’ for the Republic of Mauritius.
GRSE on Wednesday paid dividend to the government for the 23rd consecutive year.
A cheque for Rs 53.22 crore towards dividend for the financial year 2015-16 was handed over to defence minister Manohar Parrikar by Rear Admiral (Retd) AK Verma, chairman and managing director, GRSE.
GRSE, Kolkata, a miniratna defence PSU has been a profit-making PSU and regularly paying dividend to the government exchequer since 1993-94.
During 2015-16 fiscal, GRSE registered an all-time high turnover of Rs 1,707 crore as against Rs 1,612 crore in the previous year. The turnover of the company, which was Rs 574 crore in 2007-08, has almost trebled to Rs 1,707 crore in 2015-16.
To counter Beijing’s aggressive agenda in the Indian Ocean, New Delhi is seeking to create strategic bastions in Mauritius, Seychelles and Madagascar. The immediate provocation was China’s inauguration of its first overseas military base in Djibouti, in the Horn of Africa.
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