It has also secured the contract for manufacturing four large survey vessels for the Navy, which was signed on October 30.

Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd is eyeing warship manufacturing contracts with foreign countries and augmenting facilities to accommodate additional construction, its Chairman-cum-Managing Director Rear Admiral V K Saxena said.

GRSE has a huge export potential and is in dialogue with some countries in South East Asia for constructing warships for their navies, he said.

The shipyard manufactured and delivered 'CGS Barracuda' to the Mauritius Coast Guard in 2014.

"We are also in talks with countries in Africa, the Middle East and Latin America for manufacturing warships for their navies," Saxena told PTI here.

He said the GRSE is pursuing opportunities for exporting warships to the United Arab Emirates (UAE), Nigeria and the Philippines.

"In three to four years time, we can increase capacity for simultaneous construction of 24 ships at our facilities here," the GRSE CMD had said earlier this week at the launch of two fast patrol vessels for the Coast Guard.

At present, the warship manufacturer has a capacity of building 20 ships simultaneously, he said.

The GRSE has three manufacturing facilities close to each other on the bank of the river Hooghly, which can together construct eight large warships and 12 medium and small ones in tandem, Saxena said.

"A capital expenditure of Rs 200 crore can be made for the purpose of augmenting construction facilities at these," he said.

The Rajabagan Dockyard facility is being upgraded for construction of more small and medium ships, he said.

The GRSE has delivered six warships to the Indian Navy in 16 months and it has undergone a Rs 605 crore modernisation programme, he said, adding at present the shipyard is handling five important projects.

It is manufacturing three advanced stealth frigates valued at Rs 19,300 crore for the Navy under the P-17A project and keel for the first was laid on November 10, he said.

The GRSE, which had bagged contract for constructing eight Landing Craft Utility (LCU) ships for the Navy, has delivered five and the rest three are in advanced stages of construction, he said, adding that almost 90 per cent indigenous equipment fit have been achieved for these ships.

It has also secured the contract for manufacturing four large survey vessels for the Navy, which was signed on October 30, Saxena said.

"The process of approval for constructing eight shallow watercraft for the Navy is on and hopefully, in another two months we will be awarded the contract," the GRSE CMD said.

The GRSE emerged as the second lowest bidder after Cochin Shipyard Ltd for anti-submarine warfare 16 shallow watercraft contract, which will be divided equally between the two manufacturers, he said.

"At present, we have an order book of Rs 22,500 crore, which is likely to touch Rs 28,000 crore after we receive contract for manufacturing eight shallow watercraft for the Navy," he said.

Saxena said the GRSE has harnessed advanced modular shipbuilding technology at par with the best in the world, which reduces construction time.