Kolkata, Jan 29 (IANS) City-based Garden Reach Shipbuilders and Engineers (GRSE) will be doubling its capacity by the end of the next financial year, a top official of the defence establishment said Tuesday.
The firm is in talks with several countries for building and exporting warships and patrol vessels.
"Under our current capacity we can build two large and three small ships at a time. But we have started to expand our capacity and by the end of next financial year (2013-14) we will be doubling our capacity," said GRSE chairman and managing director Rear Admiral (retd) A.K. Verma.
GRSE, which Tuesday launched the last of the eight series of water jet propelled Inshore Patrol Vessels (IPV) "Rajdhwaj" (Royal Colour) for the Indian Coast Guard, said it was negotiating with Latin American and African countries for building and exporting patrol vessels as well as warships.
"We are in negotiations with several Latin American, African as well as Asian countries and hopeful of bagging export orders. Currently, we are building an Offshore Patrol Vessel for Mauritius," Verma said.
The ship-builder aims to have annual turnover of Rs.1,800 crore by the end of the next financial year.
"We have set ourselves a target of bagging at least five warships for the Indian Navy and then there are the foreign contracts, we hope we can achieve a turnover of at least Rs.1,800 crore by next FY," added Verma.
The Rajdhwaj will be fitted out at the GRSe's Rajabagan Dockyard in the city and delivered to the Coast Guard after trials by June.
The IPVs are used by the Coast Guard for patrolling, anti-smuggling, anti-poaching and rescue operations.