Dredging Corporation of India (DCIL) was locked in 10% upper circuit at Rs 1050.75 after the company bagged a five-year contract from Syama Prasad Mookerjee Port Authority (SMPA) (Kolkata Port)worth Rs 2,015.88 crore.
The contract is for undertaking maintenance dredging in the Hooghly Estuary primarily in the shipping channel leading to Haldia Dock.
The maintenance dredging is crucial for ensuring the navigability of the shipping channel, thereby facilitating smooth and efficient maritime operations in the region. The Hooghly Estuary is a vital waterway for maritime trade, and maintaining its depth is essential for the safe passage of vessels to and from the Haldia Dock.
Dr Madhaiyaan Angamuthu, IAS, chairman, VPA/ DCIL and Durgesh Dubey, deputy chairman, VPA & MD & CEO, A/C, DCIL, said: We are honored to be awarded this prestigious contract by SMPA.
Our team is committed to delivering high-quality dredging services that meet the stringent requirements of the project. We look forward to contrib .ng to the continued success of the Hooghly Estuary and the Haldia Dock.”