As per the contract, the hybrid ferries will carry passengers in all-weather conditions on River Hooghly (part of National Waterway – 1, the Ganga-Bhagirathi-Hooghly River System) in the Kolkata Metropolitan Area (KMA), stretching from Triveni in the north to Diamond Harbour in the south.

The said vessels will have catamaran hull design and be built with aluminum and Fiber Reinforced Polymer or FRP. The hybrid electric propulsion systems will be powered by batteries as well as diesel generators. The hybrid system will offer greater flexibility to the operator to switch from one mode to the other as per requirement, allowing for greater safety. The use of batteries will reduce pollution substantially.

Of the 13 ferries for which the contract was signed, six will have twin decks with a capacity of 200 passengers each. The main deck will be air-conditioned. The estimated cost of these six vessels is Rs 126.41 crore (exclusing GST).

The remaining seven vessels will have only a single deck with a passenger capacity of 100. These ferries will be nearly 25 meters long and 8 meters wide with a top speed of 9 knots. There is provision for five crew members on board. These seven vessels are expected to cost nearly Rs 99.77 crore (exclusing GST).

State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 September 2024, the Government of India holds 74.50% in the company.

The company's net profit climbed 21.09% to Rs 97.77 crore on 28.4% rise in revenue from operations to Rs 1,152.92 crore in Q2 FY25 over Q2 FY24.

The counter advanced 1.67% to settle at Rs 1411.60 on Tuesday, 19 November 2024. The market will remain shut today on account of Maharashtra Assembly polls.