Goa Shipyard Limited (GSL) was established by the Portuguese, on 26th November 1957 as ‘Estalerios Navais de Goa’. It started functioning under its own Board of Directors since September 26, 1967. Over the years, this public sector shipyard has been consciously shaped, developed and upgraded to become one of the country’s premier defence shipbuilding hubs catering for maritime security requirements of the country and its friendly neighbours. Backed by a strong design house and superior quality ships, it has emerged as the fastest growing shipyard of the country.
Having built and delivered 214 ships and 157 GRP boats to various customers, primarily Indian Navy, Coast Guard and a few foreign navies, till date, GSL is a ‘Miniratna’ company with state of the art infrastructure. Its products include Advanced Missile Frigates, Offshore Patrol Vessels, Fast Patrol Vessels, Survey Vessels, Landing Crafts, Missile Crafts, Sail Training Ships, Fast Interceptor Boats and various other marine products.
Though the Company has come a long way since inception in terms of capability, infrastructure and expertise, it has made exceptional progress in the last few years to turnaround the fortunes of the Company.
In the last few years, the Shipyard has delivered three NOPVs to the Indian Navy, eight AOPVs to Coast Guard, two FPVs to & 11 interceptor boats to Mauritius, two AOPV to Sri Lanka, one damage control simulator each to Myanmar and Indian Navy, which amounts to delivery of 36,000 gross tonnage in the last five years. Sustained momentum of growth has led to increased production and the financial year 2019-20 saw the company’s Net worth touching an all-time high of Rs 1025 Cr.
In spite of the dampening effect of the pandemic, GSL has done exceedingly well in its production activities by delivering two OPVs to the Coast Guard ahead of schedule. The Yard also commenced the construction of the Advanced Missile Vessel Project during the pandemic. Execution of this project is expected to yield a Value of Production close to Rs. 3000 Cr by 2022.
As regards the New Generation Missile Vessel (NGMV) Project of the Navy is concerned, though the formal announcement of the Shipyard is yet to be announced by the Navy, apparently GSL has emerged as the overall least bidder.
GSL’s success has catapulted it into a league of its own with good order books and excellent execution capabilities.