Knowledge Marine & Engineering Works Limited (KMEW) has completed the acquisition of the trailing suction hopper dredger (TSHD) River Pearl 48.
According to KMEW, the transaction - valued at approximately Rs 250 crore (over $26 million) - is set to expand KMEW’s fleet and enhance its execution capacities for large-scale maintenance dredging projects.
This modern vessel, built in 2021, boasts substantial capabilities, with a maximum dredging depth of 36 meters and an annual dredging capacity of 8 to 10 million cubic meters.
Commenting the latest news, Mr. Sujay Kewalramani, CEO of KMEW, said: "Completing the acquisition of River Pearl 48 is a major milestone in KMEW’s growth journey. Its capabilities create a platform for KMEW to explore opportunities in the defense dredging market."
The new dredger is slated for immediate deployment at the New Mangalore Port Authority (NMPA) to undertake recently awarded Rs 303.17 crore ($32 million) three-year maintenance dredging contract.
The project - set to begin on November 15 - covers financial years 2026-27, 2027-28 and 2028-29. It carries an annual base value of about Rs 101.07 crore ($10.6 million) and was awarded after KMEW emerged as the lowest bidder.