Dredging Corporation of India Limited set to become major global player, to diversify
Is exploring various options as part of its long-term vision to remain competitive globally by diversifying its activities. It has already entered into strategic collaboration with a few organisations to achieve its goal
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Visakhapatnam: Dredging Corporation of India Limited (DCIL), in which a consortium led by four major ports has strategic control, is inching forward to become a prominent global player.
The company, which celebrated its 46th Formation Day at its head office in Visakhapatnam on Tuesday, is exploring various options as part of its long-term vision to remain competitive globally by diversifying its activities. It has already entered into strategic collaboration with a few organisations to achieve its goal.
The company, which was once listed for strategic disinvestment, has set its goal clear to emerge as a global player in integrated dredging service by ensuring superior professional standards with environment-friendly techniques by laying emphasis on cost reduction and an end-to-end service provider.
DCIL, which is also known as DCI, has expertise in dredging and reclamation, marine construction, beach nourishment, shallow waters and inland dredging, underwater mining and project consultancy. The turnover of the company, which was Rs 599 crore in 2016-17, moved to Rs 766.92 crore in 2020-21. The Union Government divested its shareholding in DCIL viz. 73.47 percent to four major ports led by Visakhapatnam Port 19.47 per cent, others being JNPT , Paradeep Port and Deen Dayal Port (Kandla) each picking up 18 per cent equity along with transfer of management and control.
DCIL shares are listed at Mumbai, Kolkata and National Stock Exchanges of India.
The company's Foundation Day was celebrated at its head office here. The premier dredging company of the nation was incorporated on this day 46 years ago and since then it has been consistently catering to the dredging requirements of the major and minor ports across the country and abroad. It earned a profit of Rs 29.6 crore in the third quarter during current fiscal which ended on December 31.
Among others, MD and CEO, Prof GYV Victor, Directors S Balachandran, B Poyyamozhi, Capt. Anoop Kumar Sharma, Cmde. Kartik Subramaniyam, senior officials, employees and their families attended the celebration.
Speaking on the occasion, Prof. Victor outlined the journey of DCIL through the years and recollected the invaluable contributions made by its past Chairman and all other employees since its inception. He emphasised on the fact that how important was the recent historic execution of shipbuilding agreement for construction of 12,000 Cubic Meter Trailing Suction Hopper Dredger for India. "This will enormously help DCIL to augment the Dredging requirements of major ports in India. The MD stated that the construction of the new dredger will be the first of its kind in the world. The Beagle R 12 Trailing Suction Hopper Dredger to be built at Cochin Shipyard Limited under "Make in India" Initiative.
The MD said the DCIL had complete faith in the rich talent and high ethical standards of Team-DCIL and expressed his confidence that the company will restore its self-reliance and glory sooner than later. The celebrations were marked by colourful programs organised by little children of the employees of DCIL.
