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Dredging Corpn Achieves Rs 676 Cr Turnover in 2015-16

Posted on August 8, 2016

The Dredging Corporation of India (DCI) here has achieved Rs. 676 cr turnover during 2015-16, with a profit after tax of Rs. 80 crore, according to a press release.

A memorandum of understanding for the financial year 2016-17 was signed by Rajive Kumar, Secretary(Shipping) and Rajesh Tripathi, the Chairman and Managing Director of the DCI in New Delhi on Tuesday.

The MoU is for performance evaluation parameters and targets for the Dredging Corporation of India Ltd during the ensuing year.The MoU will be reviewed by the Ministry on a regular basis and the performance of PSU would be evaluated and ratings awarded at the end of the financial year.

DCI posted very good performance during the last financial year (2015-16) as against “good performance” for 2014-15 despite “very difficult market conditions.” During the year, the DCI MUTLICAT, an ancillary vessel, was added to the fleet.

The DCI has further placed an order for an inland cutter suction dredger which will join the fleet very shortly. This would facilitate the company to take up inland dredging works once again after a long gap.

During the year, maintenance dredging contracts were executed for Kolkata Port, Haldia, Kandla, Cochin Port Trust, Ernakulam, RGPPL-Dabhol and NST and its approaches of VPT. Capital Dredging Contracts were executed at Kandla Port, Kamarajar Port and Visakhapatnam Port.

Source: The Hindu BusinessLine

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