Published On:January 25 2022
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Dredging Corp signs MoU for strategic alliance with Abu Dhabi’s NMDC.

Dredging Corporation of India Ltd. (DCI) and Abu Dhabi’s National Marine Dredging Company (NMDC) have formed a strategic alliance to bid jointly for projects using each other’s resources, equipment and knowhow in the Indian sub-continent, Africa, Middle East and Far East regions.

A memorandum of understanding on the strategic alliance was signed recently between the two firms.

The strategic alliance will cover capital dredging works, project development on build–operate–transfer (BOT) basis, operate ports as managers, participate in public-private partnership (PPP) projects in dredging works in accordance with the dredging policy of the government, port development, operations and management, reclamation works and development of multi-modal transportation.

“The project execution shall be either through a joint venture or as a consortium on a project-to-project basis,” DCI said after signing the MoU.

DCI, India’s biggest dredging contractor, is owned by four government-owned major ports – Deendayal Port, Jawaharlal Nehru Port, Visakhapatnam Port and Paradip Port. NMDC is backed by the government of Abu Dhabi.

NMDC is strong on cutter suction dredgers (CSD) that are used to deepen the channel of ports and harbours while DCI has a large fleet of trailing suction hopper dredgers (TSHD) that are deployed to maintain the channel. NMDC’s fleet of 19 dredgers includes seven heavy duty cutter suction dredgers. DCI has 10 TSHD’s in its fleet of 17 dredgers.

Yasser Nassr Zaghloul, Group Chief Executive Office of NMDC, said, “This agreement is a statement of intent between NMDC and DCI that we are keen to broaden our level of collaboration. Each partner brings to the table unique strengths and experience. This, coupled with our common goal of growing our footprint, will lead to incredible opportunities that are waiting to be realised in the post-pandemic era. The agreement complements the Group’s robust plans to strengthen our capabilities and expertise and expand our operations across the region and South-East Asia.”

GYV Victor, Managing Director and Chief Executive Officer of DCI, said that with the increase in marine infrastructure development activities more specifically in the Indian sub-continent, African and Middle, Far East regions, the Indian and Abu Dhabi firms shall collaborate to form strategic alliance to participate and bid for projects on case-to-case basis in these regions.

The strategic alliance seeks to transform the two companies as leaders in these regions, he added.

HBL





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