In Kolkata, the board of Garden Reach Shipbuilders & Engineers (GRSE) authorized a 30-year land lease with Syama Prasad Mookerjee Port (SMPK). The GRSE board recently examined and approved the lease of a piece of property near Timber Pond in Howrah.
With its advantageous waterfront location, the facility will be developed to improve GRSE’s engineering, shipbuilding, and ship repair capabilities. This action is in line with its long-term growth strategy, which aims to satisfy the growing demand for its goods and services both domestically and abroad. But it also made it clear that no immediate revenue generation is anticipated from this initiative.
One of India’s top defense shipyards, GRSE is a state-run organization with its headquarters located in Kolkata. It has a solid track record of exporting ships all over the world and specializes in building and repairing both commercial and military vessels. With the Timber Pond property anticipated to act as a center for upcoming shipbuilding and associated engineering projects, the new leasing deal is viewed as a major step forward in growing GRSE’s infrastructural base.
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