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GRSE signs landmark MoU for Production of Marine Engines under 'Make in India' Initiative

Posted On : 2023-01-28 13:37:43( TIMEZONE : IST )

GRSE signs landmark MoU for Production of Marine Engines under 'Make in India' Initiative

In a major step aimed towards bolstering the 'Make in India' initiative, Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed a Memorandum of Understanding (MoU) with Rolls Royce Solutions of Germany for manufacture of high quality marine diesel engines. The MoU was signed on January 27, 2023 by Cmde. PR Hari, IN (Retd), CMD, GRSE and Shri GS Selwyn, MD, MTU India in the august presence of Vice Admiral Sandeep Naithani, AVSM, VSM, Chief of Materiel of the Indian Navy. Senior officials from Indian Navy and GRSE were present on the occasion. The MoU shall go forward among the highlights for the upcoming Aero India '23.

Under the agreement, GRSE and Rolls Royce Solutions will co-operate in the licence production and localization of the technologically advanced MTU S4000 governmental marine engines. These engines, with a power output of 746-4300 KW, are compact, reliable and easy to maintain. They are used for Fast Patrol Vessels, Interceptor Boats and Fast Attack Crafts built by GRSE and other shipyards around the country. So far, these engines are imported, bringing down the indigenous content of these classes of vessels built at Indian shipyards.

MTU is a solution brand of Power Systems, a fully-owned subsidiary of Rolls Royce pic. The manufacture of these engines in India would also provide a great opportunity to local industry, particularly MSMEs involved in the manufacture of components and spares. It has always been GRSE's aim to help in the growth of such business enterprises as part of 'Make in India' and continuously strive towards building a strong eco system of small & medium enterprises involvement in the prestigious projects that it handles. The MoU deals with Transfer of Technology related to engine assembly, painting, parts sourcing and after sales service for these engines that are to be assembled at GRSE's Diesel Engine Plant in Ranchi.

On the occasion, Commodore P R Hari, IN (Retd) said, "This partnership between GRSE & Rolls Royce Solutions is a step towards indigenisation of Marine Engines. This alliance will create a robust eco system of self-reliance in the naval shipbuilding domain and is a fillip for AatmaNirbhar Bharat."

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 485.85 as compared to the previous close of Rs. 488.00. The total number of shares traded during the day was 59282 in over 3708 trades.

The stock hit an intraday high of Rs. 498.00 and intraday low of 476.05. The net turnover during the day was Rs. 28863176.00.

Source : Equity Bulls


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