Stock Report

KMEW Emerges as First Indian Company with Bahrain's Marine Sand Extraction Certificate

Posted On : 2023-12-07 11:34:55( TIMEZONE : IST )

KMEW Emerges as First Indian Company with Bahrain's Marine Sand Extraction Certificate

Knowledge Marine & Engineering Works Ltd, (KMEW) working through its subsidiary 'Knowledge Dredging Co. W.L.L.' situated in Bahrain, has been granted a commercial registration with License by the Bahrain Ministry of Industry and Commerce, specifically for the extraction of marine sand. The commencement of operations is scheduled for January 2024.

Securing the License for the extraction of marine sand marks a significant milestone for our company, making us the first Indian entity in Bahrain to achieve this recognition. Attaining this position in Bahrain underlines our company's global competence and showcases our ability to compete on an international scale. Moreover, the License also underscores our execution capabilities in the mining and supply of sand, making a direct contribution to our revenue. This contribution to our topline is set to commence in January 2024.

Commenting on the grant of the Sand Mining License, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "We are thrilled to announce our success in securing the License to Extract Marine Sand from Kingdom of Bahrain, symbolizing its significance in the sand extraction and supply of mined sand to buyers. Our active participation in marine sand extraction directly fuels the economic growth of Bahrain, extending its impact beyond our company to potentially stimulate job creation and foster infrastructure development. The sand extracted will be sold to Infrastructure companies for various construction activities and for land reclamation purposes. This accomplishment not only unlocks opportunities for further market expansion and growth but also positions us strategically to delve into additional projects, form partnerships, and engage in collaborations, thereby enhancing our presence in the Bahraini market. The possibilities now are endless."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1402.85 as compared to the previous close of Rs. 1389.00. The total number of shares traded during the day was 11000 in over 34 trades.

The stock hit an intraday high of Rs. 1409.00 and intraday low of 1350.50. The net turnover during the day was Rs. 15203362.00.

Source : Equity Bulls


KnowledgeMarineandEngineeringWorks INE0CJD01011 KnowledgeDredgingCompany Bahrain CommercialRegistration