New Delhi: Garden Reach Shipbuilders & Engineers (GRSE) Limited has informed the cancellation of a significant defence export order placed by the Government of the People’s Republic of Bangladesh on Wednesday. The $21-million contract, signed on June 30, 2024, for the construction of an advanced Ocean-Going Tug for the Bangladesh Navy, has been formally annulled.
This information has been shared by the defence PSU in a regulatory filing to the stock exchanges on Wednesday.
GRSE informed that the cancellation was communicated by the Government of Bangladesh. However, the company has not disclosed the reasons behind the cancellation.
The contract, when awarded, marked a notable success in India’s defence exports sector. The advanced tug was designed to be 61 metres long and 15.80 metres wide, with a draught of 4.80 metres and a depth of 6.80 metres. It was to be equipped with a high bollard pull capacity—76 tons ahead and 50 tons astern—and a full-load speed of at least 13 knots. The vessel was intended to perform towing operations, berthing assistance, rescue missions, salvage operations, firefighting at sea, and limited pollution control.
The agreement, for the said contract, had been signed in the presence of senior officials from both countries.
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