Garden Reach Shipbuilders Secures LOI from Syama Prasad Mookerjee Port for Tug Construction
Garden Reach Shipbuilders & Engineers Limited has received a Letter of Intent (LOI) regarding the construction of a specialized tugboat and associated infrastructure. The contract, finalized with Syama Prasad Mookerjee Port, amounts to ₹37,94,48,131/- including all applicable GST and taxes.The LOI details the mandate for Garden Reach Shipbuilders to construct 'One 15 T Bollard Pull Electric Battery Propulsion Tug,' along with the necessary installation of shore charging infrastructure for KDS, SMPA. The agreement was finalized by Syama Prasad Mookerjee Port on August 3, 2026.
The project underscores a significant operational opportunity for the shipbuilder in the marine technology sector.
Key details regarding the LOI are summarized below:
| Aspect | Detail |
|---|---|
| Client | Syama Prasad Mookerjee Port (SMPA) |
| Item Ordered | One 15 T Bollard Pull Electric Battery Propulsion Tug |
| Ancillary Work | Installation of shore charging infrastructure for KDS, SMPA |
| Date of LOI Receipt | August 3, 2026 |
| Total Value | ₹37,94,48,131/- (including GST and Taxes) |
GRSE Stock Price Movement
As of 12:24 PM, shares of Garden Reach Shipbuilders & Engineers Limited are slipping by 0.98% in live trading, currently valued at ₹2557.50. The equity has seen a volume of 276,934 shares in the market so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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