DCI is the only PSU in the dredging field in India and is securing all major contracts through open competitive bidding process.
Dredging Corporation of India shares gained nearly 4 percent intraday Friday after bagging order of Rs 88.51 crore from Cochin Port.
Cochin Port invited global tenders for Maintenance Dredging for the year 2017-18 during August 2017 which is one of the major maintenance Dredging projects in India. DCI participated in the bidding process and stood as the lowest bidder with Rs 88.51 crore, thereby successfully retaining the work in its order book for next year, the company said in its filing.
The dredging at Cochin Port is to be carried out throughout the year by deploying two dredgers. Dredging Corporation has been carrying out the maintenance dredging works at Cochin Port continuously since 2011-12.
DCI is the only PSU in the dredging field in India and is securing all major contracts through open competitive bidding process.At 15:03 hrs Dredging Corporation India was quoting at Rs 829.00, up Rs 3.20, or 0.39 percent.