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Knowledge Marine & Engineering Works Limited secures 2nd order for Green Tug

Posted On : 2025-11-19 14:30:45( TIMEZONE : IST )

Knowledge Marine & Engineering Works Limited ("KMEW") (BSE: 543273) (NSE: KMEW) is pleased to announce that it has secured its second order for a state-of-the-art Green Tug, marking another significant milestone in the company's commitment to sustainable maritime solutions and long-term service excellence. The newly awarded contract spans a duration of 15 years, reinforcing the trust and confidence placed in KMEW's technical capability, operational performance, and innovation-driven approach. The said Letter of Award is issued by Visakhapatnam Port Authority for "Manning, Operation, Maintenance and Complete Technical Management of contractor Owned 01 No. ASTDS-GTTP Tug" at a value of ₹ 384.33 Crores (Rupees Three Hundred Eighty Four Crores and Thirty Three Lakhs) including taxes for a period of 15 years.

This achievement reflects KMEW's visionary efforts in promoting environmentally responsible marine operations. The Green Tug-designed with advanced battery operating systems with zero-emission technology-aligns with global initiatives toward greener shipping and supports the client's long-term sustainability goals.

The second order follows the company's successful ongoing management of the first green tug, making KMEW a forerunner in green maritime transformation in India. With in depth knowledge of battery management system, KMEW will deploy the same high-efficiency energy architecture in the second tug to ensure optimal reliability, safety, and lifecycle performance."

The second order placed by Govt of India on KMEW proves its operational performance in of India's Green Tug Transmission Programme, reinforcing the company's position at the forefront of the nation's maritime decarbonization efforts.

With this repeat order, KMEW will realize significant synergy benefits in capital expenditure through consolidated, multi-unit procurement with key vendors. Bulk ordering enables more favorable pricing, streamlined logistics, and standardized component configurations across vessels. In parallel, the replication of engineering, integration, and project-management workflows across both tugs reduces overhead costs by minimizing design iteration, shortening build cycles, and optimizing resource allocation. These combined efficiencies strengthen overall project economics and enhance scalability for future green-tug deployments.

With this win, KMEW has demonstrated its position as a fully qualified and capable contender in the green-tug segment, establishing a strong track record for participation in upcoming government and private green-tug tenders. This achievement positions the company to compete effectively in a rapidly expanding market estimated at approximately ₹12,000 crore, driven by national decarbonization goals and increasing demand for lowemission harbor and coastal support vessels.

Commenting on the Letter of Award, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, Securing the second green-tug order under a long 15-year operating period is a strategic milestone for KMEW and a strong validation of our technology, reliability, and execution capability. This contract extends our leadership in India's maritime decarbonization journey and reinforces the confidence that our partners place in our high-efficiency battery management systems, operational safety standards, and lifecycle cost performance.

This achievement strengthens KMEW's credibility with port authorities, shipyards, and maritime regulators, positioning the company to competitively participate in future large-scale decarbonized-vessel tenders. It also underscores KMEW's capability to deliver integrated electric-propulsion systems, high-reliability battery management solutions, and sustainable vessel-lifecycle support-key differentiators as India accelerates its transition toward cleaner maritime infrastructure.

This back to back 15 Years contracts win shows Company's sustainability in the business and growth. This project aligns seamlessly with the Maritime India Vision 2030 and the country's climate commitments under the Paris Agreement, and we are honored to be at the forefront of this transformation.

The construction of Two Green Tugs together will help us in leveraging construction and procurement synergies that directly lower capex costs. On the operational side, replicating proven engineering designs and integration workflows significantly reduces project-management overheads. Streamlined documentation, faster decision cycles, and shared technical resources further enhance efficiency. Together, these measures strengthen our financial position, create room for continuous innovation, and ensure that every subsequent vessel we build is more cost-efficient, technologically refined, and operationally robust than the last."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 2715.25 as compared to the previous close of Rs. 2684.85. The total number of shares traded during the day was 3481 in over 557 trades.

The stock hit an intraday high of Rs. 2740.45 and intraday low of 2624.00. The net turnover during the day was Rs. 9372956.00.