Deals22 May 2025, 09:30 am
GRSE Emerges as Lowest Bidder for Construction of Next Generation Corvettes for Indian Navy
AI Summary
Garden Reach Shipbuilders & Engineers Ltd (GRSE) participated in the Commercial Negotiation Committee (CNC) meeting conducted by the Ministry of Defence (MoD) on 21 May 2025 in New Delhi. The meeting was held to open commercial bids for the acquisition of eight Next Generation Corvettes (NGC) for the Indian Navy. GRSE, as the Lowest bidder (L1), is set to be awarded five NGC ships, with a likely value exceeding INR 25,000 crores.
Key Highlights
- GRSE attended the Commercial Negotiation Committee (CNC) meeting for the acquisition of eight Next Generation Corvettes (NGC) for the Indian Navy.
- GRSE became the Lowest bidder (L1) for the construction of Next Generation Corvettes.
- The L1 bidder will be awarded five NGC ships with a likely value of more than INR 25,000 crores.
- The meeting was conducted by the Ministry of Defence (MoD) on 21 May 2025 in New Delhi.
- GRSE's success in the bidding process highlights their capabilities in naval shipbuilding.