World markets now on Garden Reach Shipbuilders' radar
Kolkata: Garden Reach Shipbuilders and & Engineers (GRSE) sets their eye on the global pie of the shipping sector. GRSE intend to explore the global market for their products which includes ship building, repairing and engine production.
The endeavor to spread their wings in the global space has already began when they exported their first ship in 2014. In the export space the company intend to market all vessel sizes in various strategic geographic locations. GRSE anticipate exporting small and medium sized warship and patrol vessels to South East Asia, West Asia, African countries and Latin America which provides with opportunities to develop export business.
The company is well-poised to supply vessels of improved quality while incurring a lesser capital cost in building ships in order to compete in the global arena. In order to achieve the aforesaid strategy, GRSE is able to put in place and already possesses products and design facilities which are in-line with the best in the world equipped with latest technology to keep up with the demands of modern war shipbuilding.
GRSE has developed a new system of bridge design to increase capacity in order to increase penetration in newer markets and strengthen the existing markets. This will help them to establish additional production facilities at the Diesel Engine Plant (DEP) and modernizing facilities with respect to the production efficiency for engines.
Apart from looking at the export market as a strategy, the domestic business is also strong for GRSE. An order book of Rs 20,803.36 crore as of February 28, 2018 provides GRSE with strong revenue visibility going forward.
The order book comprises of gross order value in the shipbuilding segment, engineering segment and the engine segment of Rs 20,730.74 crore, Rs. 63.38 crore and Rs. 9.24 crore respectively.
The order book provides GRSE with a deep pool of revenue-generating projects.