The core strength of Dredging Corporation of India Limited (DCIL) was dredging maintenance work. In the next few years, we will focus on gaining more control in this segment, said company managing director and CEO GYV Victor.
He spoke to The Hindu on the occasion of the organization’s 45th day of education on Monday.
According to him, DCIL has been the market leader in the dredging maintenance segment for the past 45 years, with sales of around £ 800 billion in fiscal 2020-21.
“This year we already have orders for 830 crore and projects worth a further 100 crore are expected. The total work in this segment in India amounts to around 1,200 crore. We intend to increase our orders to at least 1,000 crore in the next few years, ”said Dr. Victor, an industry veteran who took over the management and CEO of DCIL a month ago.
DCIL already has maintenance contracts with around 10 large ports and around four small ports. “In addition to starting maintenance dredging for the ports, we intend to act as a holistic solution provider as the Department of Shipping intends to increase the depth of all ports to 16.5m,” he said.
Aside from that, he said the company will also focus on capital dredging.
“With the Sagarmala project and three ports earmarked for Andhra Pradesh such as Ramayapatnam, Dugarajapatnam and Bhavanapadu, we hope the capital dredging will be big. All three ports are greenfield ports and must be built from scratch. This includes extensive capital dredging and the provision of solutions. We are negotiating with both the center and the state governments to consider us, ”he said.
DCIL already has 14 excavators, including 10 trailing suction excavators, two milling suction excavators, a backhoe loader and an inland excavator.
“We are expanding our existing dredgers, especially the trailing suction hoppers, to handle capital dredging and have placed a new order with Cochin Shipyard. With the expansion of the existing fleet, we will be a major player in the capital dredging segment and intend to increase our share in both the national and international market, ”said Dr. Victor.
“At the international level, we want to first address the market on the subcontinent such as Bangladesh and Sri Lanka and then move to the Middle East. We already have a bilateral trade agreement with Bangladesh and a number of projects in that country are pending. We hope for a breakthrough, ”he said.
DCIL, formerly a power supply unit, is now owned by a consortium of four major ports – Visakhapatnam, Paradip, JNPT and Deendayal. While VPT has a share of 19%, the other three ports each have a share of 18%.
Regarding the vision for the next five years, Dr. Victor that the goal would be to become the most preferred contractor and go back to being a cash-rich company as it used to be.
On the occasion of Education Day, Mansukh Mandaviya, Minister of State for Ports, Shipping and Waterways, expressed confidence in a message that DCIL will soon become a global giant in the field of green and sustainable dredging for Atma Nirbhar Bharat.
On this occasion, a cultural program was organized by the children of the employees at the company headquarters.