Dredging Corporation of India
|
Native name
|
भारत निकर्षण निगम लिमिटेड |
|---|---|
| Public Sector Undertaking | |
| Traded as |
|
| Industry | |
| Founded | 9 March 1976 |
| Headquarters | Visakhapatnam, India |
|
Key people
|
|
| Products | Maintenance Dredging, Capital Dredging, Land Reclamation, Beach Nourishment |
| Revenue |
 ₹7,438 million (US$110 million) (2014) |
| Profit |
 ₹624 million (US$9.3 million) (2014) |
|
Number of employees
|
566 (2014) |
| Website | dredge-india |
Dredging Corporation of India Limited, or DCI, is a Miniratna Indian public sector unit engaged in the business of dredging. DCI does dredging for Indian seaports exclusively. It occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai. It is mainly involved in maintenance dredging. Almost all the maintenance dredging in Indian seaports is carried out by DCI due to government regulations. DCI is also involved in capital dredging, beach nourishment, and land reclamation. The main seaports in which DCI does business are Visakhapatnam Port, Haldia, Kandla, Cochin Port and Ennore Port.
DCI is headquartered at Visakhapatnam and has project offices at many seaports in India. It reports to the Ministry of Shipping. It is ISO 14001:2004 and ISO 9001:2008 certified.
DCI was incorporated as a private company in March 1976. Soon after it converted into a public company on 10 March 1992 under the Companies Act 1956. It was listed on and stock exchanges in October 1992 and debuted on on 28 February 2000. It went for an Initial public offering in March 2004. DCI engaged IHC Dredgers BV, Netherlands for design, construction and delivery of 5500 cu. m TSHD in 2011. It changed strategy to raise funds for purchasing additional dredgers by asking the seaports for investments. The capital thus raised was used to replenish its old fleet. The Government of India reduced current stake in the company by 5 percent. The offer for sale of 5 percent stake was well received by the investors. As part of its diversification plans DCI expresses interest to foray into international markets. Ex-chairman and managing director, Abraham Kuruvilla finds mention in bringing widespread reforms in the corporate management techniques at DCI.
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