Deals21 May 2025, 05:04 pm
Government of Bangladesh Cancels GRSE's Ocean-Going Tug Contract Worth 21 Million USD
AI Summary
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has announced the cancellation of a contract for the construction of an Advanced Ocean-Going Tug by the Government of the People’s Republic of Bangladesh. The contract, which was valued at approximately 21 million USD, was initially awarded to GRSE as per the company's earlier letter No. SECY/GRSE/BD-69/CA/12/24-25 dated 01 Jul 2024.
Key Highlights
- GRSE bagged a contract for an Advanced Ocean-Going Tug worth approximately 21 million USD
- The contract has been cancelled by the Government of the People’s Republic of Bangladesh
- This development is in accordance with Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015