The state-owned Dredging Corporation of India Ltd (DCI) has planned a capital expenditure programme involving an investment of about Rs 200 crore. | |
| A major portion of this will be used to acquire smaller-capacity dredgers for carrying out development works at greenfield sea ports across the country. |
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| "We plan to invest a major portion of our proposed capital expenditure for acquiring two or three dredgers with smaller capacity. These dredgers will be ideal to handle dredging works required for development of minor sea ports," said Neerav Kumar Gupta, chairman and managing director, DCI. |
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| The company is also, for the first time, planning to acquire a survey vessel. "Before we take up any dredging work, we have to undertake survey works. As we do not have a survey vessel, we have to depend on private consultancy firms which involve significant expenditure from our part. In order to avoid this, we are planning to have a survey vessel of our own," Gupta said. |
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| DCI is awaiting the draft corporate plan that is being prepared by an internationally-reputed consultancy firm. It initiates the process for a new corporate strategy. |
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| The company used to get maintenance dredging contracts from all major ports on nomination basis, with this sector accounting for over 85 per cent of its total turnover. But after the sector was opened up, DCI has to compete with both domestic and foreign players. |
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| "In order to counter this competition in the domestic market and extend our reach in the overseas dredging market, we have initiated the process to chalk out a new corporate strategy. We expect to get the draft report soon," Gupta said. |
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| Apart from the smaller capacity dredgers, DCI is acquiring two dredgers - one trailer suction and one cutter suction dredger- at an investment of about Rs 650 crore. |
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| These two will join the DCI fleet by 2007. Currently, DCI has 10 trailer suction dredgers, which are used in the maintenance dredging works, and two cutter suction dredgers, used in capital dredging works. |
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| During the year 2004-05, DCI's operational income was Rs 520.30 crore as compared to Rs 520.63 crore in 2003-04. It recorded a net profit of Rs 111.36 crore as compared to Rs 170.02 crore in the previous year. |
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