Dredging Corporation of India Sets Ambitious Growth Target

Dredging Corporation of India aims to more than double its revenue to Rs 3,000 crore within the next five years by exploring new markets. The Visakhapatnam-based company seeks to expand its services in maintenance dredging, reclamation projects, and inland waterways while modernizing its fleet and adopting advanced technologies.

The Dredging Corporation of India (DCIL) has set an ambitious target to more than double its topline to Rs 3,000 crore over the next five years, according to Managing Director and CEO Capt S Divakar. The move comes as the company plans to tap into new markets and business areas.

Based in Visakhapatnam, DCIL has been a major player in India's maritime infrastructure for nearly five decades. With a current revenue of Rs 1,148 crore, the firm aims to achieve significant growth by entering new market segments and enhancing its capabilities through strategic partnerships.

To support its growth, DCIL is investing in a fleet modernization project with a Rs 4,000 crore capex, including the procurement of 11 new dredgers. Initiatives like the Sagarmala program and Coastal Economic Zones are expected to further boost opportunities in the maritime and coastal development sectors.

(With inputs from agencies.)