GRSE Emerges Lowest Bidder for ONGC PSV Tender with ₹258 Crore Per Ship Quote.

State-owned defence shipbuilder Garden Reach Shipbuilders & Engineers Ltd (GRSE) has emerged as the lowest bidder for a contract to build four Platform Supply Vessels (PSVs) for Oil and Natural Gas Corporation Ltd (ONGC), marking the first major commercial shipbuilding tender to be finalised after the government’s push to strengthen domestic shipbuilding.

GRSE, a Navratna public sector undertaking under the Ministry of Defence, quoted the lowest bid of ₹258 crore per vessel when the price bids were opened on Thursday, according to multiple sources. The total value of the contract is expected to be ₹1,032 crore for the four vessels.

The other bidders in the tender included state-run shipbuilders Cochin Shipyard Ltd and Hindustan Shipyard Ltd, along with private players L&T Shipbuilding and Titagarh Naval Systems Ltd.

The tender comes after the Union Cabinet approved a ₹69,725 crore package last year aimed at promoting India’s shipbuilding sector and enhancing domestic manufacturing capabilities.

PSVs are specialised vessels used to support offshore oil and gas exploration and production activities. They provide essential logistics services, including transportation of equipment, supplies and personnel to offshore platforms.

Under the government’s shipbuilding support scheme, the winning shipyard will be eligible for financial assistance of around 15-20% of the project value, further boosting the competitiveness of Indian shipbuilders.

The order is expected to strengthen GRSE’s commercial shipbuilding portfolio while supporting India’s efforts to expand its maritime manufacturing ecosystem.