• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Santanu Sanyal

Kolkata, March 11

A reputed foreign dredging firm might be roped in for participation in the proposed dredging mega alliance which now has four partners namely, the port trusts of Mumbai and Jawaharlal Nehru, Cochin Shipyard and the Shipping Corporation of India.

Kolkata Port Trust, which too was to join the alliance, is not in the picture as it has not shown much interest in the venture, it is learnt.

Ernst & Young, the consultant appointed to prepare report on the proposed dredging joint venture, has already submitted its findings. It will make a presentation before the Shipping Ministry shortly. Once the Ministry gives the clearance, the Cabinet note will be prepared on the formation of the company.

The consultant, it is learnt, is convinced of the viability of the proposed venture considering the country’s dredging requirement which is steadily rising. While the accent will be on capital dredging, maintenance dredging too, will receive due attention.

Right now, the state-owned Dredging Corporation of India concentrates on maintenance dredging.

The extent of participation by each partner of the proposed alliance is still to be firmed up. This is presumably because much will depend on the participation of the foreign partner. The initial investment will be large since acquisition of dredgers will not come cheap.

More Stories on : Shipping | Alliances & Joint Ventures

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
March 2010 is target date for modernisation of 35 airports: Minister

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line