GRSE emerges as lowest bidder for Indian Navy’s five next-generation corvette project

Indian shipbuilder Garden Reach Shipbuilders and Engineers (GRSE) has emerged as the lowest bidder for the construction of five next-generation corvettes (NGC) for the Indian Navy.

Credit: GRSE

As disclosed, the shipyard participated in the competitive bidding process and has been declared the lowest bidder (L1). GRSE expects that it will be awarded the contract to build five corvettes, while the value of the deal is estimated at approximately $3 billion (₹25,000 crore).

The...