The Paradip Port Authority Marine Department awarded a very important dredging contract to Dredging Corporation of India (DCI) yesterday.
The contract includes dredging on approach channel, entrance channel, turning circle, docks and sand trap of the Paradip Port at an estimated cost of ₹172.22 crore ($21 million) for the 2023-24 year.
The contract is a feather on the cap of DCI, which aims a revenue of ₹1,000 crore and above for the financial year, according to an announcement made by the company to the Bombay Stock Exchange.
DCI Dredging Corporation is a dredging company under the consortium of four major ports authorities – Visakhapatnam; Paradip; Jawaharlal Nehru Port and Deendayal Port holding majority shares of 73.47 per cent.