Knowledge Marine & Engineering Works Ltd secures order from DCI

Knowledge Marine & Engineering Works Limited ("KMEW") (BSE: 543273) (NSE: KMEW) with an would like to inform that we have been awarded a work order by Dredging Corporation of India Limited ("DCI") for the "Chartering of the Shallow Draft Trailing Suction Hopper Dredger (TSHD) for Maintenance Dredging at Pondicherry Port during 2024-25. The work order is valued at ₹ 28.32 Crores (Rupees Twenty-Eight Crores Thirty-Two Lakhs) including taxes and is to be executed over a period 3 (Three) months and can be extended by 1 (One) Month.

The scope of order includes dredging in the Mouth Portion and its approach, Entrance Channel and Sand Trap Areas of Pondicherry Port from existing depth to designed depth. Approximately 2,00,000 Cu. M. quantity will be dredged over a period of 3 months.

This scope is vital to ensuring safe and efficient vessel movement, enhancing port accessibility, and supporting operational continuity at Pondicherry Port. KMEW's proven capabilities in precision dredging and its deployment of specialized equipment from its existing fleet will ensure timely and effective execution of this high-impact assignment.

This contract marks a major milestone for KMEW, representing our maiden engagement at Pondicherry Port and further expanding our operational footprint across India's maritime infrastructure. The award underscores KMEW's reputation as a trusted partner in the dredging sector, backed by a decade of consistent performance across major Indian ports.

For this project, KMEW will deploy dredger from its existing fleet, leveraging its in-house dredger to ensure cost-effective execution. This strategy reflects the company's commitment to maximizing asset efficiency, optimizing capital expenditure, and streamlining operations-all while maintaining a strong focus on sustainability and resource management.

Commenting on the Work Order, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "KMEW is proud to announce the recent award of a new contract from the Dredging Corporation of India (DCI), marking a significant achievement in our journey. This contract marks strategic entry at Pondicherry port. This is the 8th Contract from Dredging Corporation of India in the last 4 years. This order win not only reflects our successful track record with Dredging Corporation of India but being able to serve different employers across the Indian Coast. The win underscores our ongoing commitment to identifying opportunities at existing ports and exploring new projects, as well as our ambition to expand our capabilities across India's port infrastructure. Our strategic focus on maximizing asset utilization enables us to execute these contracts efficiently without incurring major capital expenditures, further solidifying our position as a leader in the dredging industry".

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1803.20 as compared to the previous close of Rs. 1665.15. The total number of shares traded during the day was 3516 in over 591 trades.

The stock hit an intraday high of Rs. 1818.00 and intraday low of 1652.00. The net turnover during the day was Rs. 6210103.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 KMEW OrderWin DCI