Titagarh Rail Systems bags 'record' Rs 467-crore order from GRSE

Kolkata, Aug 22 (PTI) Titagarh Rail Systems Ltd (TRSL) on Friday said its Shipbuilding and Maritime Systems Division has secured its “largest-ever” order valued at Rs 467.25 crore from Garden Reach Shipbuilders & Engineers (GRSE).

The order pertains to the construction and delivery of two Coastal Research Vessels (CRVs) for the Geological Survey of India.

The CRVs will be equipped to conduct seabed geology studies, mineral exploration, ocean environment monitoring and long-duration scientific research, bolstering India’s maritime research infrastructure, according to a statement.

TRSL had earlier delivered specialised vessels, including CRVs for the National Institute of Ocean Technology (NIOT), it said.

The company has also executed projects such as ICGS Kamla Devi (FPV) and MV Ma Lisha (Cargo RoPax) for Guyana.

It has delivered over 35 vessels so far, and continues to build on its maritime systems expertise, the statement said.

The company had recently announced that it will incorporate a wholly-owned subsidiary, Titagarh Naval Systems Ltd (TNSL), and is open to bringing in strategic partners or investors to scale up operations for the shipbuilding business.

Its board has approved, in principle, the transfer of the shipbuilding, maintenance and services (SMS) business to TNSL, subject to regulatory clearances. PTI BSM RBT