Dredging Corporation of India has inked an agreement with the Centre’s Department of Fisheries, Ministry of Animal Husbandry, and Dairying and Fisheries for developing fishing harbours, reservoirs, ponds or other water bodies across India through dredging and other marine activities.
Dredging Corporation of India is a listed and premier dredging organisation of India catering to the dredging and allied services to major ports, minor ports, Indian Navy, fishing harbours and other maritime organisations by deepening and maintaining the safe navigational channel for export-import (EXIM) activities.
MD & CEO of Dredging Corporation of India G Y V Victor signed the agreement on Friday with the departments in the presence of Jatindra Nath Swain, Secretary, Ministry of Fisheries and J Balaji Joint Secretary Ministry of Fisheries, the company said in a statement.
Speaking on the occasion MD and CEO of the company said this agreement will provide big opportunities to venture into long-term contracts with States and Centre to develop fishing harbour and maintain it.
He further said that the earlier Memorandum of Understanding that was signed between the company and Director of Fisheries, State Government of Gujarat, work for which has already commenced at Mangrol Fishing harbour rock dredging.
It will further enable the company to qualify for all future rock dredging projects that otherwise was not possible as it did not have any prior rock dredging experience, Victor added in the statement.
This agreement is another step towards expansion and diversification of the corporation into new business vertical which is aiming at a record highest ever turnover of Rs 1,000 crore for this current financial year 2022-23, the company said. (ANI)