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HYDERABAD: Dredging Corporation of India Ltd informed the stock exchanges on Monday that its board of directors has considered the implementation of Sethusamudram Ship Canal Project and contribution towards equity in Sethusamudram Corporation Ltd (SCL) at its meeting held last Tuesday. According to the company, its board has accorded approval to subscribe to 3-crore equity shares of Rs 10 each amounting to Rs 30 crore in SCL including such number of shares as subscribers to the memorandum and articles of association of the company as one of the promoters and any contribution towards shares soon after incorporation of SCL subject to the approval of President of India.

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