GRSE pays 24 crore dividend

Press Information Bureau Government of India ****** GRSE pays 24 crore dividend   Kolkata : October 8, 2009   Chairman and Managing Director of Garden Reach and Shipbuilders & Engineers Ltd, (GRSE), Rear Admiral (Retd) KC Sekhar, presented a cheque for Rs. 24.77 crore to the Defence Minister Shri AK Antony in New Delhi today towards dividend to the Government of India for the financial year 2008-09. Shri RK Singh, Secretary (Defence Production) and other senior officials of the Ministry of Defence were also present on the occasion.   This is the third year in succession that GRSE, a Defence PSU has paid the same amount towards dividend to the Government which amounts to 20 % of the share capital. GRSE expects to achieve a Value of Production of Rs. 850 crore in financial year 2009-10 as against Rs. 673 crore achieved in financial year 2008-09.   To facilitate construction of larger warships, GRSE has initiated a Rs. 530 crore modernisation programme in its Main Unit. The modernisation is expected to be completed by July 2011. Post – modernisation, GRSE will have one each of large Dry Dock and large Inclined Berth, both 180 meters long in addition to the present infrastructure. These will be supported by modern integrated Paint Cell, Modular Hall, allied Workshops and a 250 ton goliath crane. The modern infrastructure facilities will enable the shipyard to undertake construction of large ships with modular concept of construction. With this modernisation, GRSE will be able to build large vessels like the LPDs and frigates in shorter time frame.   GRSE has acquired the Raja Bagan Dockyard at Kolkata from the CIWTC in July 2006. This dockyard is also under rapid modernisation. At present, the Water Jet fast Attack Crafts are being contructed in this unit. GRSE is contemplating to build more sophisticated smaller vessels in Raja Bagan Dockyard. GRSE is currently building four anti-submarine Warfare Corvettes and 10 Water Jet Fast Attack Crafts (four have already been delivered) for the Indian Navy besides about 80 Fast Interceptor Boats for the Ministry of Home Affairs. GRSE has received order for eight Inshore Patrol Vessels (IPVs), in recent past, for use by the Indian Coast Guard. Construction of these IPVs will commence soon.   On the engineering field, GRSE has shown excellence in manufacturing Portable Steel Bridges, Marine Pumps, Ship Borne Equipment and Marine Engines. GRSE has also obtained patent for invention of double lane portable steel bridges. With a view to provide a viable flexibility to the Navy in operating helicopters from warships, the Company has developed a Common Helicopter Traversing System (HTS), for use by different types of helicopters. GRSE is in talks with international players in the fields concerned for obtaining technology for Railless HTS. This will enhance the capability of the Navy in heli-operation to a great extent.   SC/spandey   PIB Kolkata