Dredging Corporation of India Ltd

The contract aims at dredging the approach channel, entrance channel, turning circle, docks and sand trap of the Paradip port

The vessel will cost around ₹920 crore

Cochin Shipyard to receive subsidy from the government per ‘Shipbuilding Financial Assistance Policy’ from 2016  

Pact to cover capital dredging works, project development, operate ports, among others

Abu Dhabi’s NMDC is strong on cutter suction dredgers that are used to deepen the channel of ports and harbours

Will use each other’s resources, capability for mutual benefit

The unpaid dues relate to a sub-contracting deal between DCI and Van Oord at JNPT

Construction on first dredger to start this year; completion expected in 24-30 months; work on second dredger to start in 2023

This is the second dredging contract that the firm has won this month

DCI’s financial crunch nudge ministry to explore different funding options