Dredging Corp Aiming to More Than Double Turnover to ₹3,000 Cr in Next 5 Yrs: CEO Divakar

Dredging Corporation of India is looking to more than double its topline to Rs 3,000 crore in the next five years, the company's MD & CEO Capt S Divakar said, adding that the company is looking to explore new markets and areas to achieve this goal.

Visakhapatnam-based Dredging Corporation of India Ltd (DCIL) is the country's premier dredging company with around five decades of experience in dredging operations, maritime infrastructure and inland waterways.

"We are one of the oldest dredging companies in the country. Growing consistently, DCIL reached Rs 1,148 crore topline 2024-25 which is around double of Rs 550 crore in 2015. We are eyeing to double it again. We are eyeing a Rs 3,000 crore topline in the next 5-6 years," the official said in a video interview to PTI ahead of the Golden Jubilee event of the company scheduled for March 29.

To achieve the goal, Divakar said DCIL is looking to participate in new maintenance dredging tenders, reclamation projects and preparing to enter markets with strategic partners. The company is also gearing up to diversify into new business areas such as dams and reservoirs.

Commenting on the golden jubilee, he said the Minister of Ports Shipping and Waterways Sarbananda Sonowal will grace the occasion as chief guest, along with Minister of State Shantanu Thakur and Shipping Secretary Vijay Kumar and Visakhapatnam Port Authority Chairman Madhaiyaan Angamuthu.

On the factors that would contribute to the company's growth, the CEO said the scope of dredging activity in the country is bound to grow significantly, as maritime sector is a focus area of Prime Minister Narendra Modi, who aims to make India a global hub of the shipping industry.

Measures like Sagarmala programme and Coastal Economic Zones are unlocking opportunities for coastal shipping, port-driven industrialisation, development of transshipment hubs and integration of inland waterways.

Speaking further, Divakar said the company is eyeing new dredging work opportunities at several mega port projects coming up in the country such as Rs 15,000 crore outer harbour at VoC Port in Tuticorin, Cochin Port Authority outer harbour works, Syama Prasad Mookerjee Port Authority in Palta (West Bengal), Paradip Port Authority (Odisha), among others.

It is also looking to carry out more dredging activities of Inland Waterways Authority of India (IWAI).

Various states are coming up with de-siltation of rivers, dams and reservoirs in Kerala, Maharashtra, Odisha, Assam, and Tripura.

Many countries like those in the Middle East and Southeast Asia are improving their inland waterways infrastructure and developing coastal regions for cargo movements and trade activities, and DCIL will actively study those opportunities.

Recently, the PM announced modernisation of DCIL with Rs 4,000 crore capex to augment its capacity. Accordingly, the company is in the process of procuring 11 dredgers.

DCI has already ordered its first 12,000 Trailer Suction Hopper Dredger (TSHD) beagle series dredger at CSL and it is expected to be delivered by June 2026.

DCI presently has a total hopper capacity of 54,500 CuM (cubic meter).

"We are also scaling up our dredging capacity by adding another 39,000 CuM in a phased manner," he added.

Looking ahead, DCIL is focused on modernising its dredging fleet, adopting advanced technologies and expanding its dredging capabilities to meet the growing requirements of the maritime sector.