GMB plans JV with Malaysian dredging firm

Gujarat Maritime Board (GMB), an autonomous body of Gujarat government, is exploring the idea of floating a joint venture (JV) company with a Malaysian dredging company at an estimated cost of Rs 200 crore.

"The idea of floating JV for dredging business is at conceptual stage. Malaysian company Clampshell Dredging has expressed its interest in teaming up with GMB and we have asked it to conduct feasibility study for the project," said S C Mathur, chief nautical officer, GMB.

He said the JV would be through the Clampshell's Indian subsidiary Crystal Dredging where GMD would be chipping in money and assets such as existing dredging vessels and crews.

"Clampshell will also supplement the JV with its dredging assets and personnel in addition to infusion of funds," Mathur said.