Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has received a Notification of Award (NOA) for the construction of four Platform Supply Vessels (PSVs) for the Oil and Natural Gas Corporation (ONGC). The total value of this significant contract is ₹1032.07 crore. The project is expected to be completed within 48 months from the date of the NOA, marking a key development for GRSE in the offshore vessel construction segment.
GRSE Secures Major ONGC Contract
Garden Reach Shipbuilders & Engineers Ltd. (GRSE) announced on July 30, 2026, that it has received a Notification of Award (NOA) for a substantial contract. The order is for the construction of four (4) Platform Supply Vessels (PSVs) for the Oil and Natural Gas Corporation Limited (ONGC).
Contract Value and Timeline
The total value of this significant contract is ₹1032.07 Crore, inclusive of GST. The project’s execution timeline is set at 48 months from the date of the NOA, indicating a multi-year commitment to deliver these specialized offshore vessels. This award highlights GRSE’s capabilities in constructing complex marine assets for the energy sector.
Project Details and Entity Information
The entity awarding the contract is M/s Oil and Natural Gas Corporation Limited (ONGC), a prominent domestic entity in the oil and gas sector. The nature of the contract involves the construction and delivery of these vessels. GRSE confirmed that the order is awarded by a domestic entity and the transaction will not fall within related party transactions. The company also clarified that its promoters or promoter group have no interest in the entity that awarded this contract.
Source: BSE
