The Ministry of Defence has signed contracts worth Rs 53,866.50 crore with Garden Reach Shipbuilders & Engineers Limited (GRSE) and Goa Shipyard Limited (GSL) to procure eight warships for the Indian Navy. Under the contract, the ministry will acquire eight Next Generation Corvettes (NGCs) for the Indian Navy from the two state-run shipbuilders. “Under the contracts, GRSE will construct five corvettes, while GSL will construct the remaining three,” it said.
Source: India TV
