Dredging Corporation of India Ltd. has signed a memorandum of understanding (MoU) with BEML for joint development manufacture of dredgers. It also covers the design, development, and manufacture of spares for dredgers.

Also read: Defence Ministry signs tripartite MoU with BEML, BEL and MIDHANI

The collaboration aims to enhance capabilities in the dredging sector, and aid the country’s maritime infrastructure growth.

BEML will manufacture dredgers at its manufacturing facilities in the country.

The Dredging Corporation of India stock traded at ₹710.75, hitting the upper circuit, higher by 4.99 per cent on the NSE. Meanwhile, the BEML stock traded at ₹3,222.30 on the NSE, up 0.63 per cent as of 3.01 pm.