Friday, June 24, 2022

Knowledge Marine & Engineering Works bags Rs 70-cr order from Dredging Corp

Knowledge Marine has bagged a Rs 70 crore order from Dredging Corporation of India for capital dredging at Mangrol Fishing Harbours Phase III in Gujarat

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New Delhi: Knowledge Marine and Engineering Works Limited (KMEW) has bagged a Rs 70 crore order from the state-owned Dredging Corporation of India for capital dredging at Mangrol Fishing Harbours Phase-III in Gujarat.

“KMEW has been awarded a contract worth Rs 68 crore exclusive of taxes. This is the first-ever rock dredging contract. At the beginning of FY’23 KMEW had an order book of Rs 182 crore. With the latest win, it has zoomed to Rs 250 crore,” the Mumbai-based company said on Thursday.

The project, whose timeline ends on June 15, 2023, will be completed in two phases, KMEW said, adding that the contract can be extended if the quantity of work increases more than 20 per cent.

As part of contract, KMEW will be involved in excavating and removing the rocks and sediments from the seabed to increase the depth of the navigation channels, berthing areas to ensure safe passage for the fishing boats.

Through the contract, the focus is to develop a fishing harbour at the Gujarat-based Mangrol Port, which will uplift the coastal and marine infrastructure of the region.

“It is a significant contract and is anticipated to provide KMEW with numerous opportunities in the years ahead. This is also important as the contract provides an opportunity for us to establish ourselves in relatively newer areas like rock dredging, and fishing harbour development,” company’s CEO Sujay Kewalramani said.

The Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying has been implementing the government’s flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with an investment of Rs 20,050 crore in all states and union territories (UTs) for development of fisheries with effect from the financial year 2020-21.

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