State-owned Garden Reach Shipbuilders and Engineers (GRSE) Ltd will initiate a dialogue with the government to explore opportunities in the export of defence ships and technology tie-ups with Latin American, African and Gulf countries.

GRSE is set to become the first Indian defence unit to export an offshore patrol vessel to Mauritius in 2014. The mini ratna PSU, which functions under the ministry of defence, is now looking at similar export opportunities in other countries.

Rear admiral A.K. Verma, chairman and managing director of GRSE, today said the company had been showcasing its shipbuilding capabilities globally and many countries had expressed interest.

“We are in preliminary talks with many Latin American, African and Gulf countries and they have expressed interest,” Verma said, adding tie-ups can be in both manufacturing and technology sharing.

“We will be reporting to the government and then through the MEA (ministry of economic affairs), we could start our dialogue with these countries,” he said.

A Rs 600-crore modernisation plan of its main yard at Garden Reach is set to be completed by the middle of this year that will improve its production capability and lower the amount of time required to build and commission a ship.

Verma said the modernisation would help the firm to produce technologically advanced warships based on modular construction for Indian Navy. It will also help GRSE secure more international orders.

GRSE reported a turnover (value of produce) of Rs 1,500 crore in 2012-13 against Rs 1,293 crore in 2011-12. In 2013-14, Verma said the firm expected its turnover to reach Rs 1,700 crore.

“We have been growing at the rate of 16-20 per cent annually and we hope to continue that trend in the current fiscal as well,” he said.