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| India's Kamorta class ASW Corvette (Image: Wiki Commons) |
Vivek Raghuvanshi
NEW DELHI — In a major win for the Indian warship building industry, India's state-run Garden Reach Shipbuilders & Engineers (GRSE) Ltd has emerged as the winner for Philippine Navy's big-ticket modernization program.
GRSE was the lowest bidder to supply two light frigates and hopes to seal the contract worth more than $321 million in the next two months, said one GRSE official.
A total of four firms joined the bidding for the Philippine Navy project: GRSE; Hyundai Heavy Industries Inc. and Daewoo Shipbuilding & Marine Engineering Co. Ltd., both from South Korea; and Navantia S.A. of Spain.
GRSE, administered by the Indian Ministry of Defence, has built 95 warships, including frigates, corvettes and fast patrol boats, since 1960.
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