The Garden Reach Shipbuilders and Engineers (GRSE) is floating a joint venture with the French naval shipbuilder DCNS and an Indian IT partner.

The joint venture company will provide shipbuilding design services to be formalised in June 2009 in Kolkata, India.

Each partner will hold less than a 50% stake and it will not be a formal subsidiary of GRSE.

The operation will begin with an initial headcount of 70 but is expected to rise to 200 as the business develops.

By staff writer