Garden Reach Shipbuilders & Engineers Ltd (GRSE) has signed a concessional deal with Syama Prasad Mookerjee Port Trust, previously Kolkata Port Trust, to utilise the latter’s ship repair and refitting capabilities.
According to a stock exchange filing, three dry docks in the Kidderpore region, as well as related facilities and infrastructure, will be leased for 15 years to repair and refit naval and coast-guard ships, port trust boats, and commercial ships. Following a review, the concessional arrangement will be extended for another 15 years.
The port will be in charge of enabling and maintaining the docks and infrastructure, while GRSE will handle client acquisition and servicing. Profits will be ‘equally divided’ between the two.
