Dredging Corporation of India Ltd bags contract from Cochin Port Authority

Dredging Corporation of India Limited (DCIL) has been awarded the annual maintenance dredging contract by the Cochin Port Authority. The contract, valued at Rs 156.50 Crores, for the year 2024-25 with a provision to extend for another one year. This reinforces DCIL's leadership in the dredging sector and its commitment to supporting India's maritime infrastructure.

Dredging Corporation of India limited a leader in the dredging industry has a proven track record of executing large-scale dredging projects with precision and efficiency. The award of this contract to DCIL underscores Cochin Port Authority commitment to maintaining high standards of maritime infrastructure. This maintenance dredging contract includes dredging of the Cochin Port's outer channel, approach channel, ICTT Basin, LNG Basin Channels (Erankulam Channel & Mattancherry Channel) & other areas of Cochin Port ensuring the port remains navigable for vessels of various sizes. This operation is crucial for the port's functionality, enabling seamless and efficient maritime trade activities.

Dr Madhaiyaan Angamuthu, IAS, Chairman, VPA/DCIL said, "We are honored to have been selected by the Cochin Port Authority for this significant project. This contract is a testament to DCIL's capabilities and our unwavering commitment to delivering highquality dredging services. We look forward to contributing to the continued success and operational efficiency of Cochin Port."

Shares of Dredging Corporation of India Limited was last trading in BSE at Rs. 1336.70 as compared to the previous close of Rs. 1273.80. The total number of shares traded during the day was 28473 in over 2896 trades.

The stock hit an intraday high of Rs. 1337.45 and intraday low of 1241.00. The net turnover during the day was Rs. 37062221.00.

Source : Equity Bulls

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