New Delhi: Dredging Corporation of India Limited (DCIL) has signed a historic ‘Ship Building Agreement’ for the first ‘Make in India’ project for the construction of first Beagle Series 12 trailing suction hopper dredger of 12000 cubic meter capacity at Cochin Shipyard Limited. Union Minister of Ports Shipping and Waterways Sarbananda Sonowal said that the need for sufficient dredgers is 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 dredging.

Union Minister Sonowal said that the dredger built under the ‘Atma Nirbhar Bharat’ concept is one of the largest initiatives under Atma Nirbhar Bharat and is a true reflection of international Collaboration for ‘Make in India.’ He said that the Ministry under the guidance of Prime Minister Narendra Modi would be able to fulfil the objectives of the Maritime India Vision, 2030 with well equipped dredgers for operation of ports to bring down logistic cost of the cargo.

The Minister said that this Ship Building Agreement would also benefit from the Shipbuilding Financial Assistance Policy (SFAP) (2016) of the Ministry of Ports, Shipping and 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 per cent of the lower of ‘contract price’ or the ‘fair price’ or ‘actual payments received,’ whichever is least.

Dredging Corporation of India Limited (DCIL), Visakhapatnam, is a listed dredging company in India with 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. /BI/