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Plans for Karaikal: Mr G.R.K. Reddy, Managing Director, Marg Constructions Ltd, and Mr B. Bhushan , Executive Director (Finance), at a press conference in Chennai on Wednesday. - Bijoy Ghosh

Our Bureau

Chennai, Nov 14 Marg Constructions Ltd hopes to cash in on the buoyant dredging market in India.

It has acquired a cutter-suction-dredger (used for removing clay and silt clay) from China for Rs 52 crore for its Rs 1,000-crore Karaikal port project.

After nine months of use in the port, the dredger will be given for hire at other Indian ports.

Marg expects to earn around Rs 35 crore a year, according to a company official.

The Chennai-based infrastructure and real estate company also plans to acquire hopper-suction-dredger (used for dredging hard material) for use at Karaikal.

It is looking at various options, including buying and hiring the dredger, Mr G.R.K. Reddy, Managing Director, Marg.

Quoting the National Maritime Development Programme of the Shipping Ministry, Mr Reddy said the value of dredging work at all major ports by 2011-12 will be Rs 6,300 crore.

This translates into dredging volume of around 500 million cubic metres over six to seven years.

Named MARG Cauvery, the new dredger will have a dredging capacity of 2,000 cubic metres an hour and able to dredge at depths ranging from 5 m to 25 m.

The dredger is at Chennai port for registration by Indian Registration of Shipping and will be deployed at Karaikal by mid-December, he said.

On the Karaikal port project, about 250 km south of Chennai, Mr Reddy said the first phase of the project with two berths would be operational in December 2008.

The two other phases will be completed before 2009.

The port will begin with 12 metres draught and increased to 16 metres It will have an annual capacity to handle 10 million tonnes of cargo and handle vessels up to one lakh dead weight tonne, Mr Reddy said.

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