Dredging Corporation of India (DCIL) was locked in 10% upper circuit at Rs 1050.75 after the company bagged a five-year contract from Syama Prasad Mookerjee Port Authority (SMPA) (Kolkata Port)worth Rs 2,015.88 crore.
The contract is for undertaking maintenance dredging in the Hooghly Estuary primarily in the shipping channel leading to Haldia Dock.
The maintenance dredging is crucial for ensuring the navigability of the shipping channel, thereby facilitating smooth and efficient maritime operations in the region. The Hooghly Estuary is a vital waterway for maritime trade, and maintaining its depth is essential for the safe passage of vessels to and from the Haldia Dock.
Dr Madhaiyaan Angamuthu, IAS, chairman, VPA/ DCIL and Durgesh Dubey, deputy chairman, VPA & MD & CEO, A/C, DCIL, said: We are honored to be awarded this prestigious contract by SMPA.
Our team is committed to delivering high-quality dredging services that meet the stringent requirements of the project. We look forward to contrib .ng to the continued success of the Hooghly Estuary and the Haldia Dock."
Dredging Corporation of India carries out dredging activities including capital dredging, maintenance dredging as well as beach nourishment, land reclamation for Indian ports and Navy. The consortium of four port trusts Jawaharlal Nehru Port Trust, Deendayal, Port Trust, Paradip Port Trust and Visakhapatnam Port Trust currently holds a 73.47% shareholding in the company, with remaining being held by the public.
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