Stock Report

Knowledge Marine & Engineering Works Ltd recevies LOA for Rs. 139.13 crore order

Posted On : 2021-11-17 13:27:59( TIMEZONE : IST )

Knowledge Marine & Engineering Works Ltd recevies LOA for Rs. 139.13 crore order

Knowledge Marine & Engineering Works Limited has received the Letter of Award (LoA) from Ministry of External Affairs, Government of India, for 'Dredging and providing maintenance for least available depth of 7.9 M on Access Channel and Port basin at Sittwe Port and least available depth of 2M on Kaladan River for Shipping and Navigation in KMTTP, Myanmar' for a contract value of Rs. 139,13,02,600/- including GST (Rupees One Hundred Thirty-Nine Crores Thirteen Lakhs Two Thousand and Six Hundred Only). The Project is to be executed within a period of Two Years and Seven Months. The project may be extended for further two years at additional cost.

The said work is awarded jointly to M/s Knowledge Marine & Engineering Works Limited, Lead Partner, and M/s Sahara Dredging Limited, Another Partner. The company's recently acquired vessel River Pearl 8 (ex - TSHD Cauvery) with other dredgers and ancillary crafts will be deployed at Sittwe Port for executing the said work.

The said award is the first international award for the Company. The company shall contribute to assist the Government of India to build the strategic port at Sittwe, Myanmar which will connect the northeastern states via the Kaladan River and reduce the transportation time and cost.

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 109.70 as compared to the previous close of Rs. 104.50. The total number of shares traded during the day was 21000 in over 7 trades.

The stock hit an intraday high of Rs. 109.70 and intraday low of 106.00. The net turnover during the day was Rs. 2277450.00.

Source : Equity Bulls


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