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Dredging Corporation of India signs MOU with Cochin Shipyard Ltd for construction of dredger

Posted On: 2021-02-24 08:13:23 (Time Zone: Arizona, USA)

Dredging Corporation of India is one among the top 10 dredging companies of the World that own, operate and maintain dredgers to maintain Major, Non-major, Minor, Naval Ports and Harbours. DCI with more than 45 years of experience with 650 highly skilled professionals strives to contribute positively to the development of port sector to maintain navigational channel of various ports. DCI's foundation is a win-win model to complete all the assignments to utmost client satisfaction, ensuring our works are performed with highest professional integrity adhering to international safety standards, efficiently adopting cost effective operations with our versatile and modern fleet of dredgers supported with auxiliary equipment.

DCI with its capacity shall be able to dredge and address the requirement of all ports, and naval harbour. To equip and augment capacity of DCI, DCI shall construct Trailing Suction Hopper Dredger (TSHD) under "Make in India" concept and "Atma Nirbhar Bharat" and this shall be the first time our country shall construct Trailing Suction Hopper Dredger in our Indian Ship Building Yard with international standards. On 24th February 2021, DCI signed the historical MoU to construct first ever Trailing Suction Hopper Dredger in Indian Shipyard for the first time in Republic India with Cochin Shipyard Limited. The signing ceremony between Shri Rajesh Tripathi, Managing Director, DCI and Shri Madhu Nair, Chairman and Managing Director, Cochin Shipyard Limited was witnessed by Shri. Mansukh Mandaviya, Hon'ble Minister for Ports, Shipping and Waterways, Dr. Sanjeev Ranjan, Secretary, Shri. Sanjay Bandopadhyaya, Additional Secretary of Ministry of Ports, Shipping, Shri. Martin Van Der Berg, Ambassador of Netherlands to India. This is significant as DCI shall echo "Vocal for Local" under "Atma Nirbhar Bharat".

DCI has signed 18 Memoranda of Understanding of 14,000 Crore Indian Rupees with Ports, Ship Builders, Ship Repair Complex, Research Organisation and Maritime States under "Make in India" and "Atma Nirbhar Bharat" to achieve Self-Reliance to develop and to maintain our coastline. The curtain raiser and pre exhibition hall for the India Maritime Summit was opened on 24 Feb 2021 by Prof. Dr. GYV Victor, MD & CEO - Designate. Other senior officials of the Company were present. The exhibition shall remain open for the public till the 5 March 2021.

Shares of DREDGING CORPORATION OF INDIA LTD. was last trading in BSE at Rs.360.4 as compared to the previous close of Rs. 320.95. The total number of shares traded during the day was 426711 in over 12518 trades.

The stock hit an intraday high of Rs. 379.7 and intraday low of 322. The net turnover during the day was Rs. 155291431.

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.378.45 as compared to the previous close of Rs. 380.3. The total number of shares traded during the day was 374007 in over 6435 trades.

The stock hit an intraday high of Rs. 395.9 and intraday low of 318. The net turnover during the day was Rs. 141032878.

Source: Equity Bulls

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