Publicly available statements from GRSE or Bangladesh Navy, news reports

INS Ranvir Arrives in Bangladesh as GRSE Signs $21 Million Contract for 800-Ton Tug, Shares Surge

Jul 1, 2024, 05:24 AM

The Indian Navy Destroyer INS Ranvir arrived in Chattogram, Bangladesh, for a week-long goodwill visit. This visit coincides with the visit of Admiral Dinesh K Tripathi, Chief of the Naval Staff of the Indian Navy, to Bangladesh from July 1 to 4. During this period, the Bangladesh Navy signed a contract with India's Garden Reach Shipbuilding and Engineers (GRSE) for the construction of an 800-ton ocean-going tug. The contract, valued at approximately $21 million, is part of efforts to strengthen defense ties between the two countries. According to an Indian High Commission statement, the order value was confirmed in an exchange filing. Shares of GRSE surged 10% following the announcement of the contract.