Knowledge Marine & Engineering Works Limited (NSE: KMEW) has completed the acquisition of "River Pearl 48", a Trailing Suction Hopper Dredger, for a capital cost of approximately ₹250 crore.
- The dredger will be immediately deployed at the New Mangalore Port Authority to execute a recently awarded three-year maintenance dredging contract.
- The contract involves principal post-monsoon dredging of 15.9 million cubic metres over three years, with operations set to begin on 15 November 2026.
- The vessel features a maximum dredging depth of 36 m and an annual dredging capacity potential of 8–10 million cubic metres.
- Built in 2021, the vessel operates under the Indian flag with Indian Register of Shipping classification, qualifying for Right of First Refusal preferential treatment.
The acquisition of River Pearl 48 removes execution uncertainty for the ₹303. 17 crore NMPA project and significantly expands KMEW's asset base with a young (2021-built) dredging vessel of 8-10 million m³ annual capacity. The vessel qualifies for Right of First Refusal (RoFR) and opens doors to defence dredging contracts.
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