State-owned shipyard posts profit of Rs 324 M
Monday, 28 October 2002, 20:30 IST
NEW DELHI: State-owned Garden Reach Shipbuilders and Engineers (GRSE), one of India's largest shipyards, has posted a profit of 323.7 million for fiscal 2001-02.
The GRSE, which delivered several patrol vessels and hovercraft to the Indian Navy and Coast Guard in 2001-02, has drawn up a modernisation programme to improve productivity as well as delivery schedules for various warships currently being constructed by it.
The GRSE, one of three major state-owned shipyards, plans to introduce modern shipbuilding techniques to bring down costs and a voluntary retirement scheme to reduce surplus manpower, said a defence ministry spokesman.
During 2001-02, GRSE's total production was 4.88 billion.
Rear Admiral Rajeev Parliker, chairman and managing director of GRSE, Monday presented a dividend cheque for 50.9 million to Minister of State for Defence Production Harin Pathak.
GRSE delivered two fast attack craft -- INS Tarasa and INS Tarmugli -- and a corvette, INS Kulish, to the Indian Navy in 2001-02. It also delivered three hovercrafts to the Coast Guard during this period.
The shipyard is expected to deliver a Brahmaputra-class frigate and a Kulish-class corvette to the navy by mid-2003.
GRSE also expects to begin deliveries of three large amphibious landing ships, ordered by the navy last year, by mid-2005.
Source: IANS
Source: IANS