On Monday, public sector shipbuilder Garden Reach Shipbuilders & Engineers (GRSE) Limited signed an agreement with Bangladesh’s Ministry of Defence to construct a sea-going tug, an official said.
The agreement was signed in the presence of Commodore Shantanu Bose (Retired), Director (Shipbuilding) of GRSE, and Commodore AKM Maruf Hasan, Director (Navy) of the Directorate General of Defence Purchase, Bangladesh, the official added.
The ship is valued at approximately USD 21 million and will be delivered to Bangladesh within 24 months as per the agreement, according to information provided by GRSE to the National Stock Exchange and BSE.
The primary functions of the tug will be towing ships at sea, providing support alongside and astern, assisting ships during anchoring, and pushing and turning ships, the GRSE official noted.
Additionally, this tug will be capable of conducting search and rescue operations at sea.
This agreement follows a recent contract signed by the Defence PSU with a German shipping company to supply four multipurpose cargo vessels. In June, GRSE signed a contract with the state-run Bangladesh Inland Water Transport Authority (BIWTA) for the construction of a trailing suction hopper dredger worth USD 16.6 million.
Founded in 1960, GRSE is well-known for constructing military and civilian vessels for the Indian Navy and Coast Guard. It builds various types of ships such as frigates, corvettes, and fast attack craft. The company is expanding its activities in international markets and is growing its business through new contracts and collaborations.
This new agreement with Bangladesh will not only strengthen the friendly relations between the two countries but also add a new dimension to maritime security and commercial cooperation. Bangladesh has already been collaborating with India in various sectors, and this new agreement will create further opportunities for cooperation between the two nations.
Highlighting the importance of the agreement, GRSE Chairman and Managing Director, Commodore Shashank Mishra (Retired), said, “This agreement will strengthen our position in the international market, and we will be able to enhance our presence in Bangladesh. We are committed to successfully completing this project.”
Analysts suggest that such agreements will not only bolster economic ties between the two countries but also contribute to regional security and stability. Once the sea-going tug construction project is completed, Bangladesh’s maritime capabilities will be further enhanced, aiding in the protection and security of its maritime borders.
Other Projects by GRSE in Bangladesh: GRSE is already working with various government agencies in Bangladesh and participating in several projects. The company plays a key role in improving Bangladesh’s river and sea transport systems.
Bangladesh-India Maritime Cooperation: There are multiple areas of maritime cooperation between the two countries, such as marine research, oil and gas exploration, and sea tourism. This cooperation will further solidify the economic and strategic relationship between the two nations.
GRSE’s International Success: GRSE is expanding its operations not only in South Asia but also in various countries around the world. The company has already initiated projects in Africa, Southeast Asia, and the Middle East, securing new contracts and projects in those regions.
With this new agreement, GRSE is set to complete another successful project on the international stage, as part of its long-term business strategy. The successful completion of this project will pave the way for future cooperation between the two nations.
