Dredging Corp. of India Ltd, Ennore Port Ltd and Jawaharlal Nehru Port Trust, have been granted approval to sell tax-free bonds worth a combined Rs.3,500 crore this fiscal year, reports livemint.com.
Jawaharlal Nehru Port has been allowed to raise Rs.2,000 crore, Ennore Port Rs.1,000 crore and DCI has been allowed to raise Rs.500 crore.
According to livemint.com, JN Port will use this money to fund the dredging program at the Mumbai harbour channel and the Jawaharlal Nehru Port channel.
The port has hired Dutch dredging firm Royal Boskalis Westminster NV for the work costing Rs.1,219.8 crore.
Dredging Today Staff, October 23, 2012