Deals21 Aug 2025, 09:54 pm
Titagarh Rail Systems Secures 2467.25 Crore Order from Garden Reach Shipbuilders & Engineers Ltd
AI Summary
Titagarh Rail Systems Ltd has received a Letter of Intent (LOI) from Garden Reach Shipbuilders & Engineers Ltd. for the ship construction of 02 vessels. The vessels, valued at 445 crore plus $22.25 crore towards GST, are intended for use by Geological Survey of India for coastal exploration, mineral exploration, ocean environment monitoring, and research. The execution is scheduled to be completed within 28 months from the date of LOI. The order is valued at 2467.25 crore in total.
Key Highlights
- Titagarh Rail Systems secures a 2467.25 crore order from Garden Reach Shipbuilders & Engineers Ltd.
- The order is for the ship construction of 02 vessels intended for use by Geological Survey of India.
- The vessels are for coastal exploration, mineral exploration, ocean environment monitoring, and research.
- The execution of the order is scheduled to be completed within 28 months from the date of LOI.
- The order is valued at 445 crore plus $22.25 crore towards GST.