Dredging Corporation of India

Dredging Corporation of India Limited announced the appointment of Shri Gaurav Dayal, IAS, as Additional Director (Promoter-Non Executive) effective November 7, 2025. Dayal serves as Chairman of Jawaharlal Nehru Port Authority and brings over two decades of administrative experience, including roles as Secretary (Home Vigilance) in Uttar Pradesh and Divisional Commissioner of Ayodhya. He is a Physics graduate and alumnus of the Lal Bahadur Shastri National Academy of Administration. The appointment requires formal approval at the next General Meeting or through Postal Ballot within three months. Simultaneously, Shri Unmesh Sharad Wagh, IRS ceased to be Director of the company on the same date as Dayal took charge as Chairperson of Jawaharlal Nehru Port Authority. The company confirmed that the new Director is not related to any existing Directors or Officers.

Dredging Corporation of India's shares jumped 18% after the company signed 22 MoUs worth ₹17,645 crore with 16 organisations during India Maritime Week. The MoU value represents nearly seven times the company's market capitalisation of ₹2,500 crore. The agreements were signed with major ports including Visakhapatnam, Paradeep, Jawaharlal Nehru Port, Chennai, Mumbai and Kochi for dredging services over the next two to five years. Additionally, the government announced a ₹4,000 crore investment for modernisation, including construction of 11 new dredgers and fleet upgradation. The company expects these developments to help increase market share and strengthen its position in the dredging sector. The stock has gained 42% over four of the last five trading sessions.

Dredging Corporation of India Limited (DCIL) entered into 22 Memorandums of Understanding with 16 organizations worth Rs. 17,645 crore during India Maritime Week 2025 held in Mumbai from October 27-31, 2025. The MOUs were signed with major ports including Visakhapatnam, Paradip, Jawaharlal Nehru, Deendayal, Shyama Prasad Mukherjee, Cochin, Chennai, and Mumbai ports for dredging requirements over the next 2-5 years. Additional partnerships include Cochin Shipyard for dredger construction and repair, NMOC Abu Dhabi for joint venture formation, Bharat Earth Movers Limited for indigenization of spares, IHC for modernizing existing dredgers, and National Technology Centre for Ports for bathymetry surveys and training modules. Prime Minister Narendra Modi announced a Rs. 4,000 crore investment for DCIL's modernization, including construction of 11 new dredgers and fleet upgradation. DCIL currently operates 10 Trailer Suction Hopper Dredgers with 60,000 cubic meters combined capacity, handling 50-60 million cubic meters of dredging annually, representing 55% of India's total dredging requirement of 110-120 million cubic meters per year. The initiative supports Maritime India Vision 2030 and Atmanirbhar Bharat 2047 goals.