Why Dredging Corporation deal makes sense for Adani Ports

Deal might be a strategic fit, as Adani now has the largest capital dredging capacity in the country

India's largest port operator Adani Ports and Special Economic Zone (APSEZ) is in the fray for acquiring the government's stake in Dredging Corporation of India (DCI), a mini-ratna PSU. The government is looking at selling 51 per cent stake in the dredging major, which posted an 82 per cent drop in net profit in FY17. It currently holds 73.47 per cent.

APSEZ, which now has a fleet of 19 dredgers, is in fray among other domestic dredging firms for a controlling stake in DCI, sources close to the development indicated.

An APSEZ spokesperson said, "We believe