Posted on December 14, 2017
Shares of Dredging Corporation of India (DCI) gained by 2% to Rs660 after the company signed an MoU with National Highways Authority of India (NHAI) for facilitating the supply of sand for highways construction work. Concessionaires working on highways projects have been facing a shortage of sand at many sites. The MoU aims to fill this gap by facilitating the availability of sand for these concessionaires.
DCI intends to do dredging operations at locations in South East Asia, generating large volumes of sand. This dredging will be done for the purpose of obtaining sand.
As per the MoU, business intermediaries will ship and store this sand at various ports in India and market it in India. NHAI will facilitate the process by displaying the availability of sand at various stockyards at the ports.
Source: IIFL
