Garden Reach Shipbuilders & Engineers Ltd Secures Contract for Construction of Four Multi-Purpose Vessels

Garden Reach Shipbuilders & Engineers Ltd (GRSE) has signed a contract for the construction and delivery of four multi-purpose vessels of 7,500 DWT each. The contract was awarded by M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co, an international entity. The contract is worth approximately 54 million USD and the vessels are to be designed, built, and delivered after completion. The time period for the execution of the contract is 33 months. GRSE confirmed that none of the promoters or promoter groups have any interest in the entity that awarded the contract.