Cochin Port Trust awards Rs 122.50 cr contract to Dredging Corp
AVIATION & AIRPORTS

Cochin Port Trust awards Rs 122.50 cr contract to Dredging Corp

Dredging service major Dredging Corporation of India (DCI) has acquired a yearly maintenance dredging contract worth Rs 122.50 crore from Cochin Port Trust.

The company told the media that the tender includes maintaining the channel and basin at Cochin Port from May 2021 to May 2022.

DCI has begun the dredging project at the port by deploying Dredge XV and Dredge VIII.

DCI is an Indian Government undertaking involved in the business of dredging. It is engaged in providing the services of maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, Project Management consultancy, and Marine formation.

The company recorded a net loss of Rs 25.61 crore in the third quarter (Q3) of FY21 as against a net profit of Rs 31.36 crore in Q3 FY20. Net sales grew from 27.9% to Rs 259.04 crore in Q3 FY21 over Q3 FY20.

On the Bombay Stock Exchange (BSE) the scrip shed 0.13% to currently trading at Rs 393. In the past month, the stock has added 14.03% while the benchmark Sensex has increased 4.46% over the same period.

Image Source


Also read: Adani secures dredging project at Kandla port

Also read: IHC Holland to share dredging tech with Cochin Shipyard

Dredging service major Dredging Corporation of India (DCI) has acquired a yearly maintenance dredging contract worth Rs 122.50 crore from Cochin Port Trust. The company told the media that the tender includes maintaining the channel and basin at Cochin Port from May 2021 to May 2022. DCI has begun the dredging project at the port by deploying Dredge XV and Dredge VIII. DCI is an Indian Government undertaking involved in the business of dredging. It is engaged in providing the services of maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, Project Management consultancy, and Marine formation. The company recorded a net loss of Rs 25.61 crore in the third quarter (Q3) of FY21 as against a net profit of Rs 31.36 crore in Q3 FY20. Net sales grew from 27.9% to Rs 259.04 crore in Q3 FY21 over Q3 FY20. On the Bombay Stock Exchange (BSE) the scrip shed 0.13% to currently trading at Rs 393. In the past month, the stock has added 14.03% while the benchmark Sensex has increased 4.46% over the same period. Image Source Also read: Adani secures dredging project at Kandla port Also read: IHC Holland to share dredging tech with Cochin Shipyard

Next Story
Infrastructure Transport

Central Government launches Rs 5.60 trillion maritime projects

The Union government announced that 802 Sagarmala projects, valued at Rs 5.60 trillion, were being carried out across India. According to the Ministry of Ports, Shipping and Waterways (MoPSW), Andhra Pradesh was responsible for 113 of these projects, with an estimated cost of Rs 1.23 trillion.

It was reported that nearly 36 projects, totalling Rs 320.21 million, had already been completed. The MoPSW was concentrating on port connectivity, coastal community development, and shipping, in accordance with the recommendations of the Maritime Board.

In connection with this, a revi..

Next Story
Infrastructure Urban

Industries unite in patriotic fervour for 77th Independence Day

The 77th Independence Day was commemorated with unwavering patriotic zeal as the city's private, corporate, and public sectors joined hands to celebrate. Leaders of various organisations hoisted the national flag, paying homage to the relentless struggle of freedom fighters against British colonial rule, culminating in the attainment of independence.

Highlighting industry achievements, RINL-Visakhapatnam Steel Plant CMD Atul Bhatt proudly announced the plant's remarkable production accomplishments. Notably, the plant achieved a production of 14.74 lakh tonnes from..

Next Story
Infrastructure Transport

Dredging Corporation of India targets 12% growth

According to S Divakar, Managing Director and CEO of Dredging Corporation of India (DCI), the company is aiming for a 12 per cent growth and a turnover exceeding Rs 13 billion in the current financial year. To achieve this target, DCI plans to participate in new dredging tenders and venture into new markets, as stated by Divakar in an interview with PTI.

"In the fiscal year 2022-23, our turnover reached Rs 1,164 crore, which is the highest ever since the establishment of the company. Moving forward, we are now setting our sights on surpassing the new milestone of over Rs 1,300 cro..

Next Story
Infrastructure Transport

Noida Airport to be linked by expressway, rapid rail, and pod taxi

The construction of Noida International Airport, also known as Jewar airport, was in its final stages, and passenger services were expected to begin in October. The airport would be linked by six roads and a rapid rail-cum-metro, in addition to pod taxis.

Upon completion, the Noida airport was projected to be the largest in India and the third in the National Capital Region (NCR) after Delhi airport and Hindon airbase in Ghaziabad.

A 31-km greenfield expressway was being built to connect the airport to the Delhi-Mumbai Expressway at Ballabhgarh.

The National Highway Aut..

Next Story
Infrastructure Transport

Nagpur Airport: Mihan Dream grounded, vantage point lost

Nagpur's unique and strategic central location was once lauded for placing it on the nation's aviation map. It was hailed for its efforts in creating a harmonized air traffic management system with continuous airspace over the city, alongside establishing a centralized cargo hub. However, Dr Babasaheb Ambedkar International Airport is currently mired in apathy and has seemingly vanished from the national radar across various parameters, barely meeting the standards expected of a tier-2 city airport.

The airport, bearing its international tag, serves merely two flights to two foreign de..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram