Dredging Corporation of India Ltd (DCI) has won a three-year maintenance dredging contract from Visakhapatnam Port Authority, in a deal worth Rs 57 crore. The contract was awarded on nomination basis (without tender). This is the first such three-year annual maintenance dredging deal awarded by Visakhapatnam Port Authority to Dredging Corporation of India.
Visakhapatnam Port Authority is the largest shareholder among the four State-owned major port authorities that owns DCI with 19.47 percent stake. The other three – Jawaharlal Nehru Port Authority, Deendayal Port Authority and Paradip Port Authority – own 18 percent stake each in the dredging contractor.
“Visakhapatnam Port Authority has awarded the annual maintenance dredging contract to Dredging Corporation of India that includes dredging at New Sand Trap (NST), its approaches and other areas of the port and to pump the dredged material to the shore for beach nourishment for three years till 2025,” a DCI spokesperson said. DCI aims to achieve revenue of Rs1,000 crore in the fiscal year that began in April, the spokesperson added. After it was acquired by the four major port authorities in March 2019, DCI has secured dredging works from its promoter ports, including Jawaharlal Nehru Port Authority, on nomination basis.
