Four Port Trusts Buy Dredging Corporation of India

Image source: IHC

The Government of India signed a shareholders agreement today to sell its 73.47 per cent stake in Dredging Corporation of India Ltd (DCI) to four major port trusts for Rs1,056 crore ($150.7 million), The Hindu Business Line reports.

The decision to sell the government’s entire stake in DCI to government-owned Visakapatnam Port Trust, Paradip Port Trust, Jawaharalal Nehru Port Trust and Deendayal Port Trust will help the National Democratic Alliance (NDA) Government avert political backlash in the forthcoming polls if the dredging firm was to be privatized.

With DCI coming under its direct control, the four port trusts – which together hold 70 per cent of the maintenance dredging market at major ports – are expected to give work to DCI on nomination basis (without a tender) at their own ports.

 

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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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