Overview

• Garden Reach Shipbuilders & Engineers signed the agreement with Kongsberg in Oslo on June 3 in the presence of Union Minister Sarbananda Sonowal.
• The vessel’s design and construction will be carried out at GRSE’s Kolkata yard with completion expected within five years at an estimated cost of Rs 2,600 crore.
• Equipped with state-of-the-art scientific instruments, the PRV will support deep-sea exploration and research at India’s bases in Antarctica and the Arctic.
• The collaboration integrates Kongsberg’s design expertise with NCOPR requirements, reducing India’s dependence on chartered vessels and strengthening its Make in India shipbuilding capabilities.
• Following the MoU announcement, GRSE shares jumped about 10%, hitting record highs as markets reacted to the project’s strategic potential.