Dredging Corporation inks shipbuilding agreement for Beagle Series 12 Trailing Suction Hopper Dredger at Cochin Shipyard

Dredging Corporation inks shipbuilding agreement for Beagle Series 12 Trailing Suction Hopper Dredger at Cochin Shipyard

New Delhi, March 19, 2022

The Dredging Corporation of India signed a Shipbuilding Agreement for the construction of the Beagle Series 12 Trailing Suction Hopper Dredger at Cochin Shipyard Limited on Wednesday.

Union Minister of Ports Shipping & Waterways Sarbananda Sonowal, Minister of State Shripad Naik, and Secretary for Ports, Shipping and Waterways Sanjeev Ranjan were present at the signing ceremony.

Sonowal said the availability of a sufficient number of dredgers was of utmost importance for timely completion of dredging and the new dredgers would be able to bring in the much-needed efficiency and timely completion of the task. This in turn would enable smooth operation of vessels.

Sonowal said that the agreement would benefit from the Shipbuilding Financial Assistance Policy (SFAP) (2016) of the Ministry of Ports, Shipping & Waterways for Indian Shipyards for shipbuilding contracts secured between 01.04.2016 and 31.03.2026. Financial assistance is granted under this policy to Indian Shipyards equal to 17% of the lower of “Contract Price” or the “Fair Price” or “actual payments received”, whichever is least. A provision of Rs 4,000 crore has been made for ten years, he added.

Under the “Waste-to-Wealth” initiative, the Ministry has issued Dredging Guidelines at Major Ports to ensure that the dredged material has to be taken up for recycling and reuse based on scientific study. This will enable a sustainable dredging disposal mechanism and promote waste to wealth.

The Minister lauded the initiative of the Cochin Port Trust which has been able to extract the dredged material and earn precious revenue by auction of dredged material. Paradip Port has been utilising 1 million cubic meters of dredged material for reclamation of land for Numaligarh Refinery Ltd. The Visakhapatnam Port and the Jawaharlal Nehru Port have been using part of dredged material for beach nourishment.

The Minister congratulated the DCIL and CSL teams and also the officers of the Ministry of Ports, Shipping & Waterways for this first Make In India Dredger Building Project. He also thanked IHC Holland, the technology partner for this project. The agreement is a very good example of Indo-Dutch collaboration in the Make in India initiative and in strengthening the long-standing maritime relationship between the two countries, he added.

Appreciating the initiatives of Cochin Shipyard Limited in the technologically high-end vessel building segment, the Minister stated the new dredger construction project is another major step for CSL which allows the company to leverage its technological prowess and prepare the ground to “Make In India for the World”.

Dredging Corporation of India Limited (DCIL), Visakhapatnam is a listed dredging company in India with the majority of its shares held by the consortium of four major ports authorities -- Visakhapatnam Port, Paradip Port, Jawaharlal Nehru Port and Deendayal Port. DCI is a premier dredging organization of India catering to the dredging and allied services to Major Ports, Minor Ports, Indian Navy, Fishing Harbours and other maritime organizations.

Dr G. Y. V Victor, MD & CEO of Dredging Corporation of India Limited and Madhu S Nair, Chairman & Managing Director, Cochin Shipyard Limited signed the documents.

NNN

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