Dredging Corporation of India (DCI) will acquire three dredgers for Rs 1,087 crore. The Cabinet Committee on Economic Affairs today gave its approval to DCI for acquiring three new trailer suction hopper dredgers with a capacity of 5,000 cubic meters (CUM) each from IHC Holland Merwede BV, The Netherlands.DCI will be allowed to avail of external financing up to Rs 730 crore. The loan would be sourced either from the domestic market or the international market.DCI, at present, has an installed dredging capacity of 79.85 million cubic metres.DCI's fleet enhancement programme comes when government is planning to increase the capacity of ports - both by adding new berths and terminals - and enabling bigger vessels to call at major ports.As per projections for the 11th Plan, the estimated average maintenance and capital dredging demand in India is expected to be 82.30 million cubic metres and 133.09 million cubic metres, respectively. Taking into account the present dredging capacity of DCI and other dredging companies in India, there is an average shortage of 78 million cubic metres dredging capacity. DCI has been awarded capital dredging work of the E3-E4 stretch in Palk Strait area adjoining Bay of Bengal as part of the Sethusamudram Ship Canal Project (SSCP). In the wake of shortage of capafity, DCI had finalised a project-specific joint venture for SSCP with leading global major Dredging International.The company is also looking for joint venture partners for some major capital dredging projects.The government also approved a proposal of Shipping Corporation of India (SCI) to acquire 12 vessels for Rs 3,193 crore.Information and Broadcasting Minister P R Dasmunsi said SCI would be allowed to acquire four Aframax tankers of about 1,10,000 dead weight tonnage (DWT) each, two large range-II product tankers of about 95,000 DWT each, four Panamax bulk carriers of about 75,000 DWT each and two cellular container vessels of about 5,000 TEU each (twenty equivalent units).Dasmunsi said SCI would be allowed to avail external financing of up to 80% of the contract price of each vessel. "The loan would be sourced either from the domestic or the international market," he said.
