Navratna shipbuilder leads India’s first major commercial tender under the government’s shipbuilding incentive scheme.

GRSE Emerges Lowest Bidder for ONGC’s ₹1,032 Crore PSV Shipbuilding Contract.

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has emerged as the lowest bidder to build four Platform Supply Vessels (PSVs) for Oil and Natural Gas Corporation (ONGC), marking the first major commercial shipbuilding contract under the Centre’s ₹69,725 crore shipbuilding promotion package. The state-owned defence shipbuilder quoted ₹258 crore per vessel, taking the total contract value to approximately ₹1,032 crore. Other bidders included Cochin Shipyard, Hindustan Shipyard, L&T Shipbuilding, and Titagarh Naval Systems. Platform Supply Vessels are vital for transporting equipment, supplies, and personnel to offshore oil and gas installations, ensuring smooth exploration and production operations. As the successful bidder, GRSE will also be eligible for government financial assistance of 15–20% under the shipbuilding support scheme. The contract is expected to strengthen India’s domestic shipbuilding capabilities while supporting the government’s broader objective of enhancing self-reliance and competitiveness in the maritime sector.