KMEW Secures ₹66.11 Crore IWAI Contract for 10 Hybrid Electric Passenger Ferries

Knowledge Marine & Engineering Works Limited ("KMEW") (BSE: 543273 | NSE: KMEW) is pleased to announce that a consortium comprising Knowledge Shipyard Private Limited ("KSPL"), as Lead Partner, and Knowledge Marine & Engineering Works Limited, has received a prestigious contract from the Inland Waterways Authority of India ("IWAI"), Ministry of Ports, Shipping and Waterways, Government of India, for the Design, Construction, Supply, Testing and Commissioning of 10 Hybrid Electric Passenger Ferries having a capacity of 20 passengers each.

The contract carries an aggregate value of ₹66.11 Crores including applicable taxes (65.52 Crores including applicable taxes for construction of ferries and 0.59 Crores including applicable taxes for maintenance and support) and is scheduled to be executed over a period of 10 months, followed by a 60-month maintenance and support commitment, enabling the Group to establish a long-term engagement with a marquee Government client.

The award marks a significant strategic milestone for the KMEW Group and represents the first external commercial shipbuilding order secured by Knowledge Shipyard Private Limited, validating the Group's investments towards creating a dedicated, scalable and future-ready shipbuilding platform.

Strengthening KMEW's Integrated Maritime Platform

The project broadens KMEW's business portfolio and strengthens its transition from a marine services and vessel operations company into an integrated maritime infrastructure and shipbuilding enterprise.

The scope of work includes detailed vessel engineering, class approvals, construction, integration of hybrid-electric propulsion systems, navigation and safety equipment, testing, commissioning and final delivery in accordance with IWAI's technical, statutory and quality requirements.

The award is aligned with the Government of India's initiatives aimed at accelerating sustainable inland water transportation and complements policy efforts promoting low-emission and energy-efficient vessels under the Harit Nauka - Inland Vessels Green Transition Guidelines.

As India continues to invest in cleaner waterways, multimodal connectivity and environmentally responsible transport infrastructure, KMEW believes specialised vessel manufacturing presents a compelling long-term growth opportunity. Successful execution of this project is expected to strengthen the Group's credentials in hybrid and electric vessel construction and establish an important execution benchmark for future opportunities in inland water transport, passenger ferries, harbour crafts, tourism vessels, workboats and other specialised marine assets.

A Defining Milestone for Knowledge Shipyard Private Limited

This contract assumes additional significance as it represents the first external commercial shipbuilding order from Government of India, secured by Knowledge Shipyard Private Limited (KSPL) as the lead member of the consortium since the establishment of KMEW's dedicated shipbuilding platform. It clearly demonstrates the confidence of the Inland Waterway Authority of India in the execution strength of KMEW Group.

The award validates the Group's strategic vision of creating a focused and scalable shipbuilding subsidiary capable of participating in India's growing demand for technologically advanced and sustainable vessels. With KSPL leading the consortium, the project will serve as an important reference point for demonstrating capabilities in commercial shipbuilding, particularly within the emerging green vessel segment.

KMEW's established marine engineering expertise, vessel operations experience and execution capabilities will further support the consortium in delivering the project within stipulated timelines and in accordance with IWAI's stringent technical requirements.

Mr. Sujay Kewalramani, Chief Executive Officer, Knowledge Marine & Engineering Works Limited, said: "This award represents an important strategic milestone in the evolution of the KMEW Group and validates our long-term vision of building a differentiated and scalable shipbuilding platform through Knowledge Shipyard Private Limited.

The project provides us with an opportunity to participate meaningfully in India's transition towards sustainable inland water transportation and positions the Group within the emerging ecosystem for hybrid and electric vessels. Beyond the immediate revenue opportunity, this contract establishes an important execution benchmark for KSPL and reinforces our commitment towards developing indigenous shipbuilding capabilities aligned with national priorities. This project will consume less than 5% of the Shipyard capacity and resources.

Over the last few years, KMEW has steadily expanded its capabilities across marine engineering, dredging, vessel operations, repair and maintenance. This award further advances our strategy of creating an integrated maritime enterprise with multiple growth drivers capable of delivering long-term value for shareholders while supporting India's vision for modern, efficient and environmentally responsible waterways."

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks KnowledgeShipyard IWAI