Dredging Corporation of India Ltd Company Summary

Dredging Corporation of India Ltd Summary

Dredging Corporation of India Ltd, a Mini-Ratna Public Sector Enterprise is a successful Domestic & Global Player in the field of dredging. The company offers four types of dredging services, namely maintenance dredging, capital dredging, beach nourishment and land reclamation. They do dredging mainly for Indian seaports, though occasionally they dredge at foreign seaports in countries such as Taiwan and Dubai.The company helps to ensure the continuous availability of the desired depths in shipping channels of the Major and Minot Ports, Navy, fishing harbor and other maritime organizations. The head office is located in the eastern seaboard of India at Visakhapatnam in Andhra Pradesh and project offices are located at all major ports in India.Dredging Corporation of India Ltd was incorporated on March 29, 1976 with the primary objective of catering to the dredging requirements of Indian ports. The company is a pioneer organization in the field of dredging and maritime development. The company being a Mini-Ratna enterprise has enhanced autonomy with regard to capital expenditure, establishment of joint ventures, overseas offices and technology alliances. The company commenced their full fledged commercial operation from April 1, 1977.In the year 1977, the company was awarded a USD 10 million contract for the management of Yanbu Construction Port on the Red Sea in the Kingdom of Saudi Arabia, for three years. During the year 1981-83, they have efficiently performed stevedoring services at Yanbu Construction Support Port. During the year 2001-02, they executed shore pumbinig and reclamation works at Taichung Harber in Taiwan.The company associated themselves with the prestigious Sethusamudram Ship Channel Project. The Minsitry of Shipping, Road Transport and Highways set up a Special Purpose Vehicle in the name Sethusamudram Corporation Ltd and the company was one of the stakeholders in Sethusamudram Corporation Ltd, along with the Government of India, Shipping Corporation of India and Port Trusts of Tuticorin, Chennai, Visakhapatnam, Paradip and Ennore Port.The company contributed Rs 30 crore towards the equity for the Sethusamudram Corporation Ltd. The Government of India awarded capital dredging work of E3-E4 stretch in Palk Strait area adjoining Bay of Bengal to the company on nomination basis.