DREDGING CORPORATION OF INDIA - PSU

This debt free PSU is the largest dredging company in the country. The 78.6% government controlled dredging company is estimated to have a market share of about 80-85%. As of March ‘09 it had 12 dredgers in its fleet. Recent entrants in this sector include shipping companies like Mercator Lines, which had four dredgers at the end of October ‘09. There are 12 major ports in the country under the control of the ministry of shipping and Dredging Corporation is currently involved in dredging activities at some of these key ports like Haldia, Vishakhapatnam and Marmagoa. Dredging Corporation, along with other players operating under the Indian flag, enjoy a first right of refusal for dredging work contracts subject to certain criterion. The growth trajectory for the dredging industry would come from a spate of ports set-up in the country by private sector players, like Mundra Port and SEZ.