New Delhi: D Subbarao has been designated as Chief Financial Officer (CFO) of Dredging Corporation of India (DCI) with effect from March 19. Prior to this elevation, he was working as head of the Finance Department in the same organisation. With this assignment, he has replaced Sumiran Bansal. This information has been shared by the DCI in regulatory filings to the exchange.
Subbarao is an MBA, M. Com, B.L., and have a post-graduate diploma in computer applications. He also has a diploma in accounting software. He has 31 years of experience in the company. He joined the DCI as Executive Trainee in 1988 and worked in various capacities in the company. Prior to this, he was working as head of the finance department. Subbarao has experience in establishment matters, project finance, taxation matters both direct and indirect, corporate accounts, capital budgeting, audit issues etc.
Dredging Corporation of India Limited is a unit engaged in the business of dredging which falls under the Ministry of Ports, Shipping & Waterways. DCI does dredging for Indian seaports exclusively. It occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai. It is mainly involved in maintenance dredging. Almost all the maintenance dredging in Indian seaports is carried out by DCI due to government regulations. DCI is also involved in capital dredging, beach nourishment, and land reclamation. DCI is headquartered at Visakhapatnam and has project offices at many seaports in India.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)