NMDC Eyes Buying Dredging Corporation of India

National Marine Dredging Company (NMDC), the Abu Dhabi based marine contractor, plans to buy state-owned Dredging Corporation of India Ltd (DCI), The Hindu Business Line reports.

The move comes after the Cabinet on Wednesday approved a proposal to privatize DCI by selling the government’s 73.47 per cent stake in the country’s largest dredging contractor

“DCI would be a most suitable and best fit for us,” said Mahesh Zagade, director at National Marine and Infrastructure India Pvt Ltd, the Indian unit of the Abu Dhabi stock exchange-listed company in which the Abu Dhabi government has a 32 per cent stake.

“We are weighing plans to submit a bid,” added Zagade.

According to The Business Line, NMDC and DCI had earlier discussed a strategic alliance to deploy some of the Indian company’s dredgers in the global market, but these talks were inconclusive.

 

Share this article

Follow Dredging Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

22nd World Dredging Congress & Exposition (WODCON XXII)

The event is being organized by the World Organization of Dredging Associations (WODA), China Dredging Association (CHIDA) and Eastern…

read more >

IADC SEMINAR ON DREDGING AND RECLAMATION IN DELFT

This five-day course strives to provide an understanding through lectures by experts in the field and workshops…

read more >

PORTS Conference

The PORTS Conference series is internationally recognized as an outstanding opportunity to network with…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply