DCI to add new dredger worth Rs 500 cr

State-owned Dredging Corporation of India (DCI) is expecting a new dredger worth Rs 500 crore to join its fleet by the end of this financial year. DCI has 10 trailer suction and three cutter suction dredgers apart from one back hoe dredger. The back hoe was added last November for which the company spent Rs 130 crore.

DCI has also has placed orders on IHC Netherlands to procure three dredgers with an outlay of Rs 1,500 crore, sources told Business Standard. Of these, one will be delivered by the end of this December and the other two in 2013. The company's dredging capacity is 86 million cubic metres, which will increase to 110 million cubic metre per annum once the new machines come, they said.

The mini ratna company enjoys 80 per cent share in India’s maintenance market.

Meanwhile, it has signed an MoU with the shipping ministry to ensure a level-playing field.

The MoU for the financial year 2012-13 was signed between Pradeep Kumar Sinha, secretary- shipping ministry, and Capt DK Mohanty, chairman and managing director, DCI, on March 15.