The approach channel, entrance channel, turning circle, docks, and sand trap of the Paradip port will be dredged by Dredging Corporation of India for the years 2023–2024, at a cost of 172 crore.
According to a statement submitted by DCI to the Bombay Stock Exchange, the contract is a plus for the company, which plans to earn at least $1,000 crore in revenue for the fiscal year.
A coalition of four important port administrations, including Visakhapatnam, Paradip, Jawaharlal Nehru Port, and Deendayal Port, owns the majority of the shares (73.47%) in DCI Dredging Corporation.
It caters to dredging and allied services to major ports run by the Centre; minor or non major ports under the control of the State governments; lndian Navy, fishing harbours and other maritime organisations by deepening and maintaining the safe navigational channel for exim activities, says the announcement.
