Posted on November 5, 2025
Recently, PM Modi announced Rs 4,000 crore investment for modernisation of DCIL during the inauguration of India Maritime Week 2025
PSU firm Dredging Corporation of India Ltd’s (DCIL) shares hit 20% upper circuit on November 3 after the company announced that it has entered into 22 Memorandum of understandings worth Rs 17,645 crore with 16 organisations during the India Maritime Week 2025 event held in Mumbai from October 27-31, 2025.
At 10:40 am on November 3, Dredging Corporation of India shares rose 20% to trade at Rs 889.35 apiece.
Recently, Prime Minister Narendra Modi announced Rs 4,000 crore investment for modernisation of DCIL during the inauguration of India Maritime Week 2025.
The Rs 4,000 crore investment will focus on fleet modernisation and capacity enhancement to strengthen India’s dredging infrastructure. The market capitalisation of DCIL stock is Rs 2,500 crore.
Some MoUs that were entered with following ports and organisations and industry majors:-
*Promoter ports – Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port, Paradip Port, Deenadayal Report and other major ports including Shyam Prasad Mukherjee Port, Cochin Port, Chennai Port, Mumbai Port for catering to their dredging requirement for next 2-5 years.
*Cochin Shipyard for construction and repair of dredgers as part of the modernisation initiatives under Atma Nirbhar Bharat.
*NMDC, Abu Dhabi – for formation of JV for partnering with foreign major aiming at increasing operational- efficiency, and global competitiveness.
*Bharat Earth Movers Limited (BEML) as part of Atma Nirbhar initiative, for indigenisation spares, construction of inland dredgers.
*IHC, as part of the initiative to modernise the existing dredgers so as to optimise their capacity utilisation.
Angamuthu, Chairman, Dredging Corporation of India Limited and Chairperson, Visakhapatnam Port Authority and Mumbai Port, expressed gratitude Prime Minister Narendra Modi during the inauguration of India Maritime Week 202 for the Rs 4,000 crore investment dedicated to the modernisation of Dredging Corporation of India Limited (DCIL) for construction of 11 dredgers apart from upgradation, automation and development of skilled manpower. He stated that the MOUs would help DCI to continue to cater to the dredging requirements which is the lifeline for ports, upgrade the existing fleet, indiginsation of spares and dredger construction under Atma Nirbhar.
Capt. S. Divakar, Managing Director & CEO, DCIL, (A/C) stated that DCI is the leading dredging company in India and the executing of the MOUs with the Ports and other market leaders would enable to reaffirm its position and also make inroads globally. He added that the modernization roadmap will empower DCIL to execute complex dredging and reclamation projects with world-class precision. He stated that DCl’s current dredging capacity is based on a fleet primarily consisting of 10 Trailer Suction Hopper Dredgers (TSHDs) with a combined hopper capacity of approximately 60,000 cubic meters. This fleet enables handling of roughly 50-60 million cubic meters of dredging annually, accounting for nearly 55% of India’s total dredging requirement of around 110- 120 million cubic meters per year. The addition of the new vessels would enable the company to increase its foot hold in the market and reaffirm its position as market leader.
