November 25, 2024 21:24 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
SC wants Delhi schools to reopen despite high pollution, says students staying home won't solve issues | Violence over mosque survey in Uttar Pradesh's Sambhal kills five, Rahul Gandhi urges SC to intervene | Parliament's Lok Sabha and Rajya Sabha adjourned for the day amid uproar | Those rejected by people disrupt Parliament for political gains: PM Modi | India's allround show rout Australia in Perth
GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category
GRSE
GRSE in Kolkata. File photo from Facebook/GRSE

GRSE secures $54 million order, Centre upgrades PSU to 'Schedule A' category

| @indiablooms | 19 Sep 2024, 03:09 pm

New Delhi/IBNS: The government on Wednesday (Sept. 18) upgraded shipbuilding and defence Public Sector Undertaking (PSU) Garden Reach Shipbuilders and Engineers Ltd. (GRSE) from Schedule ‘B’ to Schedule ‘A’ Central Public Sector Enterprise (CPSE), reports said.

According to the Department of Public Enterprises, GRSE becomes the 77th company in the Schedule ‘A’ category, with an annual turnover of Rs 3,592 crore and a net profit of Rs 357 crore for the fiscal year 2023-24.

GRSE described the upgrade as a "significant milestone" that highlights its strong financial performance, operational efficiency, and contribution to national security.

This upgrade will enhance the company's senior management capacity, allowing for better oversight and management of its operations, as per reports.

Additionally, the PSU informed the exchanges about a $54 million contract for the construction of four additional multi-purpose vessels for German shipping company Carsten Rehder Schiffsmakler, bringing its total order to eight vessels.

These vessels are expected to be delivered within 33 months from the contract signing, as stated by the PSU.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.