Dredging Corporation inks deal with Abu Dhabi-led NMDC

25 Jan 2022 , 01:05 PM

Dredging Corporation of India Ltd (DCI) has signed MoU with NMDC Abu Dhabi (UAE) to cater the needs of the ports in more efficient way.

Further, NMDC and DCI have also agreed on mutual participation and mutual bid submissions across the region on a project-to-project basis. As per regulator filing, they will also cooperate on projects which are subcontracted, through a consortium or any other specific arrangements, by outlining their responsibilities that will be jointly agreed upon and delivered.

Both partners will provide each other with technical and other support, if required through a joint venture agreement.

At around 1:04 PM, Dredging Corporation of India was trading at Rs313.35 per share down by Rs1.45 or 0.46% on the BSE.