After making India's first warship for export, the Garden Reach Shipbuilders and Engineers Ltd (GRSE) is negotiating for delivery of two light frigates to the Philippines, an official said here on Monday.

The GRSE-built offshore patrol vessel (OPV) CGS Barracuda was commissioned by the National Coast Guard of Mauritius earlier in the month at Port Louis Harbour during a visit by Prime Minister Narendra Modi.

"The success of Barracuda has generated a lot of interest in the GRSE among foreign countries. Right now we are doing a technical negotiation for two light frigates for Philippines," GRSE chairman and managing director Rear Admiral A.K. Verma (retd) said here.

"The price bids are being finalised. Our competitors are Europeans and (South) Korean firms, so it's a big challenge for us. But if we get it, it will be a very big achievement both for the GRSE and the country," said Verma.

Verma was speaking during the launch of a GRSE-built Landing Craft Utility (LCU) for the Indian Navy.

Verma said the defence miniratna PSU was in competition with six foreign ship yards including Navantia, Spain; STX France; and Hyundai, Daewoo, and STX from Korea.

The GRSE which delivered India's first indigenously-built stealth Anti-Submarine Warfare (ASW) Corvette, INS Kamorta, to the Indian Navy is working on 15 more ships.

"The INS Kamorta was the 93rd ship that we built and delivered. No other shipyard in the country has this recognition. Currently we are working on orders of 15 more ships for the navy," said Verma.