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.

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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