Dredging Corporation bags contract from Cochin Port

Dredging Corporation of India (DCI) secures Rs. 88.51 crore contract for dredging of channels and basins at Cochin Port through a competitive bidding process. DCI has been carrying out the maintenance dredging work at Cochin Port continuously since 2011-12.

Cochin Port invited global tenders for maintenance dredging for FY18, which is one of the major maintenance dredging projects in India. DCI stood as the lowest bidder with Rs. 88.51 crore, thereby successfully retaining the work in its order book for the next year. The dredging at Cochin port is to be carried out throughout the year by deploying two dredgers.

DCI, is an Indian Government undertaking engaged in the business of dredging. It is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, Project Management consultancy and Marine construction. DCI is the only PSU in the dredging sector in India.

On Friday, the stock opened at Rs. 843.40 per share, around 2 per cent up from its Thursday’s closing of Rs. 825.8 and jumped around 4 per cent and touch an intra-day high of Rs. 856.65, on the BSE.