DCIL bags maintenance dredging contract worth Rs 250 cr

The Jawaharlal Nehru Port Authority (JNPA) has awarded a yearly maintenance dredging contract worth Rs 250 crore to the Dredging Corporation of India Limited (DCIL). According to a statement, JNPA awarded the maintenance of Mumbai and JNPA navigational channel to DCIL, including dredging of 20 million cu m plus or minus 20% yearly with the project cost of about Rs 250 crore per annum. DCIL is a leading dredging organisation in India, providing dredging and allied services to major ports, minor ports, the Indian Navy, fishing harbours and other maritime organisations by deepening and maintaining the safety navigational channel for Export-Import (EXIM) activities. DCIL is a listed dredging organisation in India under the consortium of four key port authorities, including Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port and Deendayal Port. It owns a majority shares of 73.47%. The company told the media that the Ministry of Ports Shipping and Waterways had announced dredging guidelines in 2021 and emphasised major ports to award dredging contracts on a long-term basis. It said that a long-term contract of three years had been awarded by JNPA. It will be an assured revenue to DCIL's top line amounting to Rs 250 crore per annum. The company said that DCI is aiming at a record highest-ever turnover of Rs 1,000 crore for FY22-23. Image Source Also read: JNPA seeks to dismiss Adani Ports plea against tender disqualification