Business
Jawaharlal Nehru Port Authority Awards Rs 250 Crore Yearly Maintenance Dredging Contract To DCIL
Containers loaded onto a ship at the Jawaharlal Nehru Port Trust (Representative Image) (Bhaskar Paul/The India Today Group/Getty Images)
The Jawaharlal Nehru Port Authority (JNPA) has awarded a Rs 250 crore yearly maintenance dredging contract to the Dredging Corporation of India Limited.
"JNPA awarded the maintenance of Mumbai and JNPA navigational channel to DCIL that includes dredging of 20 million cubic meter plus or minus 20 per cent yearly with the project cost of about Rs 250 crore per year," DCIL said in a statement on Thursday (16 June).
DCIL is the premier dredging organisation of India catering to the dredging and allied services to major Ports, minor Ports, Indian Navy, fishing harbours and other maritime organisations by deepening and maintaining the safe navigational channel for EXIM (Export-Import) activities.
The Vishakhapatnam-based DCIL is a listed dredging company in India under the consortium of four major ports authorities - Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port and Deendayal Port - holding majority shares of 73.47 per cent.
The company said that the Ministry of Ports Shipping and Waterways had promulgate dredging guidelines last year, and emphasised the major ports to award dredging contract on long term basis.
Long term of three years contract awarded by JNPA will be an assured revenue to DCI top line amounting to Rs 250 crore per year, the company said.
According to the company, the extension of the contract by JNPT is feather on the cap of DCI which is aiming at a record highest ever turnover of Rs 1,000 crore for the financial year 2022-23.
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