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Our Bureau

New Delhi, March 13

Given the huge dredging activity that India is likely to witness for its ports, Shipping Corporation of India, the Jawaharlal Nehru port, the Mumbai port and Mazagon Docks Ltd are considering a move to get together to form a mega-dredging company to undertake dredging works. Moreover, the Shipping Ministry may also take the issue up with the Ministry of Petroleum to rope in some oil majors for the proposed joint venture. The company could also consider adding foreign players on its board at a later stage. The venture will not only take up dredging operations at ports, but will later get into building of dredgers, which will steer India to join a select club of countries having this capability. "The move is aimed at bringing in competition in a segment, which is virtually controlled by a few major companies in the world market," the Shipping Corporation of India Chairman and Managing Director, Mr S. Hajara, said while addressing a ports mission from the UK, at a conference organised by the Confederation of Indian Industry.

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