Will use each other’s resources, capability for mutual benefit
Dredging Corporation of India and the Abu Dhabi government-backed National Marine Dredging Company plan to jointly target project work in India and abroad using each other’s resources.
A memorandum of understanding will be signed by India’s biggest dredging contractor, owned by four major port trusts and the Abu Dhabi firm. The plan has received the backing of the Ministry of Ports, Shipping and Waterways, a government official briefed on the plan, said.
National Marine is strong on cutter suction dredgers that are used to deepen the channel of ports and harbours while the Dredging Corporation has a large fleet of trailing suction hopper dredgers that are deployed to maintain the channel.
NMDC’s fleet of 19 dredgers includes seven heavy duty cutter suction dredgers. DCI has 10 TSHD’s in its fleet of 17 dredgers.
Both companies’ resources complement each other and they plan to undertake work in India and abroad on a project-to-project basis, the official said.
“Through the strategic pact, DCI will have a strong Asian partner on par with European dredging contractors who is also willing to participate in dredging works proposed to be carried out in India on public-private-partnership mode by lending financial support,” the official said.
Aside from consolidating its presence in the United Arab Emirates, NMDC has recently opened office in many counties including India as part of a strategy to venture into global markets to reduce geographical risk.
NMDC has been scouting for opportunities to acquire entities in backward or forward stages of the value chain as well as to enter into strategic alliances or acquisitions to diversify the business into civil or infrastructural development, the company said in its annual report for 2020.
