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Cochin Shipyard ‘ready’ to put equity in India’s first locally build dredger for DCI
With Dredging Corporation of India Ltd (DCI) facing fund crunch, the government is looking at multiple options for financing India’s first locally built high end and larger dredger with Dutch know how, including asking state-run Cochin Shipyard Ltd to extend equity support to the vessel it will construct for the Visakhapatnam-based dredging firm.
Mumbai-listed Cochin Shipyard and DCI signed a memorandum of understanding (MoU) recently for constructing either a 8,000 or a 12,000 cubic metre hopper capacity trailing suction hopper dredger (TSHD) estimated to cost as much as ₹800 crore. TSHDs are used to maintain the channel of ports.