Dredging Current Affairs - 2019
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Cabinet Committee on Economic Affairs (CCEA) has approved strategic disinvestment of 100% Government of India’s shares in Dredging Corporation of India Limited (DCIL) to consortium of four ports. Presently, Central Government holds 73.44% shares in DCIL. The consortium of four ports consists of Vishakhapatnam Port Trust (Andhra Pradesh), Paradeep Port Trust (Odisha), Jawahar Lal Nehru Port Trust (Maharashtra) and Kandla Port Trust (Gujarat). The government’s divestment target for fiscal 2018-19 was Rs 80,000 crore and so far it has garnered over Rs 15,000 crore from PSU stake sales.
Strategic sale of DCIL will further facilitate linkage of dredging activities with ports, keeping in view the role of DCIL in expansion of dredging activity in the country as well as potential scope for diversification of ports into third party dredging. The co-sharing of facilities between company as well as ports shall lead to savings for ports. This will also further provide opportunities for larger investment in DCIL as integration with ports shall help ineffective vertical linkage in value chain.
Dredging Corporation of India Limited (DCIL)
It is miniratna public sector unit (PSU) engaged in the business of dredging. It does dredging for Indian seaports exclusively. It is involved in capital dredging, beach nourishment, and land reclamation. It was established in March 1976 and is headquartered in Visakhapatnam, Andhra Pradesh. It reports to the Ministry of Shipping. Almost all maintenance dredging in Indian seaports is carried out by DCI. It also occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai.
Tags: Business • Cabinet Decisions • Dredging • Dredging Corporation of India Limited • Economy
Dredging Corporation of India (DCI) and National Highways Authority of India (NHAI) have signed a MoU for facilitating the supply of sand for highways construction work.
The MoU aims to fill sand supply gap by facilitating the availability of sand for concessionaires working on highways projects who were facing shortage of sand at many sites.
Under this MoU, DCI intends will do dredging operations at locations in South East Asia and generate large volumes of sand. This dredging will be done for purpose of obtaining sand. Business intermediaries will ship and store this sand at various ports in India and market it for highways projects. NHAI will facilitate process by displaying availability of sand at various stockyards at ports.
Dredging Corporation of India (DCI)
DCI is Indian Government Miniratna undertaking engaged in business of dredging. It was established in 1976 and reports to the Ministry of Shipping. It is headquartered at Visakhapatnam and has project offices at many seaports in India.
DCI is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow water dredging, Project Management consultancy and Marine construction. It also occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai.