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>

<< May 2019 >>
MTWTFSS
29 30 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 1 2

Eastern Chapter WEDA Fall 2019 Conference

Wednesday (10/16/19) afternoon will start the program with an opportunity to take the Dredging 101 course.

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 >

10th Dredging & Land Reclamation Summit 2019

The 10th Dredging & Land Reclamation World between 15-18 July 2019 in London is aimed at resolving…

read more >

Australasian Coasts and Ports 2019

Conference Theme “Future directions from 40°S and beyond” reflects the increasing awareness about the need to find suitable…

read more >

Jobs>

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

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