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Dredging Corporation signed 22 MoUs worth ₹17,645 crore with 16 ports and industry players to modernise and expand India’s dredging capabilities. The stock hit a 20% upper circuit after the announcement.
DCIL is already the country’s largest dredging firm handling over 55% of India’s dredging needs.
The deets: the MoUs cover collaborations with major ports like Visakhapatnam, Paradip, JNPT, Cochin, and Chennai, ensuring dredging operations for the next 2–5 years.
DCIL also partnered with Cochin Shipyard for building and repairing dredgers, BEML for indigenising parts & NMDC Abu Dhabi for a joint venture to boost global competitiveness.
Why it matters: these deals come alongside a ₹4,000 crore government investment announced by PM Modi to upgrade DCIL’s fleet, build 11 new dredgers, and enhance skill development.
The move will help DCIL strengthen India’s maritime infrastructure, critical for port operations, trade flow, and coastal development.
